ABC Publications Limited accepted deposits from the public to the tune of 70 Lakh on 1st May 2021, for a period of 36 months at an interest rate of…

ABC Publications Limited accepted deposits from the public to the tune of 70 Lakh on 1st May 2021, for a period of 36 months at an interest rate of 10% per annum. The repayment would be made on 30th April, 2024. It has complied with all the statutory requirements for the acceptance of deposits by a Public Limited Company. One of the depositors Mr. Y was in urgent need of money as his son wanted to pursue his higher education abroad. His total deposit with ABC Publications Limited was 10 lakh. On 1st June 2022, he sent his request to the company asking for premature repayment of his deposit along with interest. Another depositor, Mr. U had deposited 6 lakh in his name. On 18th September 2022, he sent an application to the company to change the name on his deposit and make it a joint holding in the names of himself, his wife and two children. The company is contemplating the requests received from its depositors. In addition to the deposits received form the public, the company had also raised funds by amount received from a Public Sector Bank, by issue of bonds and debentures and amounts against issue of commercial papers which were issued according to the guidelines issued by the Reserve Bank of India. On the basis of the given facts, and by applying the applicable provisions of the Companies Act, 2013 and the Rules therein, choose the correct answer of the following questions: (Q.No.1 to Q.No.3)