Comment on the following with reference to the provisions of the Companies Act, 2013: A private company which is a start-up can accept deposits from its members without any limit on the quantum of the deposits.

According to section 73 read with rule 3 of the Companies (Acceptance of Deposits) Rules, 2014, a private Company can accept deposits from its member's up-to 100% of aggregate of the paid-up share capital, free reserves and securities premium account. However, this limit is not applicable to a private company which is a start-up, for 10 years from the date of its incorporation. Hence, the statement is correct as this exemption is applicable to a private company which is a start-up, for ten years from the date of its incorporation.