Question : During the year ending on 31st March, 2017 — 15% What should be the minimum investment or deposit by Universal Ltd. to meet the requirements of the Companies Act, 2013 and Rules before the redemption of debentures and When?
Option 1: On or Before 30th April, 2016 and Rs 45,000
Option 2: On or before 30 April 2017 and Rs 45,000
Option 3: On or before 30 April 2018 and Rs 30,000
Option 4: None of the above
Correct Answer: On or Before 30th April, 2016 and Rs 45,000
Solution : Answer = On or Before 30th April 2016 and RS 45,000
On or Before 30th April 2016
15% of Rs. 20,00,000 = Rs. 3,00,000
15% of Rs. 3,00,000 = Rs. 45,000
Hence, the correct option is 1.