Indian real estate market has long been a cornerstone of nation's economic growth attracting not only local demand but is also seen as a global…

Indian real estate market has long been a cornerstone of nation's economic growth attracting not only local demand but is also seen as a global investment opportunity; in particular, Non-resident Indians (NRIs) are actively participating in this market, not just as investors but also as a way to stay connected with their motherland. Keeping the above facts in view, in April 2015, Abhinandan, ably guided by his father Guru Narayan having in-depth experience of about fifty years in the same line of real estate, along with his wife Sumati and daughter Shipra, incorporated a real estate development company by the name Robust Builders & Developers Limited with Registered office situated in Gurugram and obtained RERA Registration from Haryana Government. The Authorised and Paid-up Capital of the company was ₹ 20,00,00,000 divided into 20,00,000 equity shares of ₹ 100 each. While Guru Narayan acted as mentor, Abhinandan was at the helm as the Chairman and Managing Director (CMD). Sumati and Shipra were whole-time directors looking after Accounts and Humam Resources departments. In addition, Aniruddha (holding development portfolio as Director), Charu Vikram (Director – Sales and Marketing) and Neelkanth (Director – Property Management) played an equally important role in the growth of Robust Builders & Developers Limited. There were two independent, namely, Vaishali and Vishesh. Slowly and gradually, with their sustained efforts, the company covered enormous ground thereby establishing its place as a leading real estate developer in India. Its expanding portfolio consisted of over 80 lakh square feet of prime property carefully crafted across more than thirty exclusive projects that have served close to 26,000 satisfied customers belonging to every stratum of society till date. Earlier in May 2025, the Board of Directors of Robust Builders & Developers Limited decided to repay the remaining outstanding amount of ₹ 5,50,000 (including interest) to Sarvpriya Commercial Bank Ltd. and to get released a plot of land situated in Hissar on which a charge was created by the company in favour of the bank on 1st May, 2019, in order to raise a term loan of ₹ 50 lakh. Rosalia, Company Secretary, ensured that the entries relating to the Charge were made in the Register of Charges which was maintained at the Registered Office. (It is informed that the charge was duly registered with the jurisdictional Registrar of Companies (ROC) on 16th May, 2019, by filing Form No. CHG-1 along with other requisite documents.) As decided, the full and final repayment of term loan was made on 15th May, 2025, and immediately thereafter, Rosalia filed Form No. CHG-4, which was duly signed by the holder of charge i.e. Sarvpriya Commercial Bank Ltd., with the jurisdictional ROC for satisfaction of charge. In due course of time, the company received from the ROC a Certificate of Registration of Satisfaction of Charge in Form CHG-5 which was dated 26th June, 2025confirming that the charge had been duly removed from the company's record. To continue with the expansion plans and to make available funds for this purpose, the directors were contemplating upon issuing 8% Debentures worth ₹ 2,00,00,000 (2,00,000 8% Debentures of ₹ 100 each). Being an important matter, Rosalia was directed to convene an Extra-ordinary General Meeting (EGM) on 27th June, 2025, at 11:00 AM at the Registered Office of the company. As on the date of EGM, the company had 640 members. In addition to three proxies, the requisite number of members were present to constitute quorum. The resolution was duly passed paving way for issue of 8% Debentures. Meanwhile, HR Manager Abheek had noticed marginal increase in 'employee turnover' in the past three years. To nip the bud, after due formalities, he suggested the company to develop a policy of demanding a non-interest-bearing security deposit, not exceeding employees' annual salary, from the prospective employees at the executive level under the contract of employment, which was duly accepted and implemented. Based on the facts of the case scenario given above, choose the most appropriate answer to the following Multiple Choice Questions based upon the provisions of the Companies Act, 2013: