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of <h1>Section 76 allows eligible public companies to accept secured public deposits with credit rating safeguards and asset-backed protection</h1> Section 76 permits prescribed public companies, meeting specified net worth or turnover thresholds, to accept deposits from persons other than their members, despite section 73, provided they comply with section 73(2) requirements and rules framed by the Central Government in consultation with the Reserve Bank of India. Such companies must obtain and publicize an annual credit rating assessing net worth, liquidity, and capacity to repay deposits, ensuring adequate safety. Companies accepting secured public deposits must, within thirty days, create a charge over assets at least equal to the deposits in favour of depositors, as per prescribed rules. All other Chapter provisions apply mutatis mutandis.
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