Comment on the following with reference to the provisions of the Companies Act, 2013: An eligible company can accept only secured deposits from the public.

According to proviso to section 73(2)(f) of the Companies Act, 2013, a company does not secure the deposits or secures such deposit partially, then, the deposits shall be termed as "unsecured deposits" and shall be so quoted in every circular, form, advertisement or in any document related to invitation or acceptance of deposits. In such case, the circular inviting deposits in Form DPT-1 shall state that the deposits being accepted are unsecured deposits and that no charge will be created on the assets of the company. Hence, the statement that an eligible company can accept only secured deposits from the public is not correct.