Question : During the year ending on 31st March, 2021 — 20%. 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 75,000
Option 3: On or before 30 April 2020 and Rs 60,000
Option 4: None of the above
Correct Answer: On or before 30 April 2020 and Rs 60,000
Solution : Answer = On or before 30 April 2020 and Rs 60,000
On or Before 30th April 2020
20% of Rs. 20,00,000 = Rs. 4,00,000
15% of Rs. 4,00,000 = Rs.60,000
Hence, the correct option is 3.