Okara Limited, a company. having a net worth of 110 crore and a turnover of 450 crore, wants to accept deposits from the public. Referring to the…

According to section 76 (1) of the Companies Act, 2013, an “eligible company" means a public company, having a net worth of not less than one hundred crore rupees or a turnover of not less than five hundred crore rupees and which has obtained the prior consent of the company in general meeting by means of a special resolution and also filed the said resolution with the Registrar of Companies before making any invitation to the public for acceptance of deposits. Okara Limited is having net worth of 110crore. Hence, it falls in the category of 'eligible company' and thus can accept the deposits from public.