Trisha Data Security Limited was incorporated just a year ago with a paid- up share capital of & 200 crore. Within such a small period of about year in operation, it has earned sizeable profits and has topped the charts for its high employee-friendly environment. The company wants to issue sweat equity to its employees. A close friend of the CEO of the company has tald him that the company cannot issue sweat equity shares as minimum 2 years have not elapsed since the time company commenced its business. The CEO of the company has approached you to advise about the essential conditions to be fulfilled before the issue of sweat equity shares especially since their company is just about a year old. Shankar Portland Cement Limited is engaged in the manufacture of different types of cements and has got a good brand value. Over the years, it has built a good reputation and its Balance Sheet as at March 31, 2020 showed the following position: 1. Authorized Share Capital (25,00,000 equity shares of % 10/- each) % 2,50,00,000 2. Issued, subscribed and paid-up Share Capital (10,00,000 equity shares of % 10/- each, fully paid-up) ® 1,00,00,000 2 Free Reserves @ 3,00,00,000 The Board of Directors are proposing to declare a bonus issue of 1 share for every 2 shares held by the existing shareholders. The Board wants to know the conditions and the manner of issuing bonus shares under the provisions of the Companies Act, 2013. Answer the following citing relevant provisions: (a) Prayas Electricals Limited having paid-up capital of € 1 crore availed a term loan of 7 10,00,000 from Beta Bank Limited to purchase electrical items. Mr. Sambhav, one of the directors of the company, is of the opinion that it shall be considered as ‘deposit’. Is his contention correct? (b) Eklavya Publishing Company Limited facing acute cash crunch wants to utilise a portion of ‘Deposit Repayment Reserve Account’ to pay off its short-term creditors who are pressing hard for repayment of ¥ 20,00,000, Is it justified to use funds lying in ‘Deposit Repayment Reserve Account’ in this manner? (Sanjiv is a shareholder in Utsah Textiles Private Limited holding 10,000 shares of * 10 each. His wife Sneha and his three sons Aayush, Pranav and Himanshu are also shareholders in the company holding 1,000 shares each. In response to the invitation from the company inviting deposits from its members, Sanjiv wants to deposit Rs. 1,00,000 for 36 months jointly with his wife and three sons. Whether Utsah Textiles Private Limited can accede to the request of Sanjiv and accept deposit jointly in five names since all the depositors are shareholders of the company.Ranjit acquired a property from PQR Limited which was mortgaged to Pyramid Bank. He settled the dues to Pyramid Bank in full and the same was registered with the sub-registrar who noted that the mortgage had been settled. But neither the company nor Pyramid Bank filed particulars of satisfaction of charge with the jurisdictional Registrar of Companies. Can Ranjit approach the Registrar and seek any relief in this regard? Discuss this matter in the light of provisions of the Companies Act, 2013. Renuka Soaps and Detergents Limited realised on 2nd May, 2022 that particulars of charge created an 10th March, 2022 in favour of a Sankalp Commercial Bank Limited were not registered with the Registrar of Companies. What procedure should the company follow to get the charge registered? Would the procedure be different if the company realised its mistake of not registering the charge on 7th June, 2022 instead of 2nd May, 2022? Explain with reference to the relevant provisions of the Companies Act, 2013.