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प्रश्न
Explain the following term/concept.
Deposit Repayment Reserve Account.
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उत्तर
- A Deposit Repayment Reserve Account is a special bank account that a company accepting deposits must maintain under Section 73(2)(c) of the Companies Act, 2013.
- Every company is required to deposit not less than 20% of the amount of its deposits maturing during the following financial year in a scheduled bank in this separate account.
The amount must be deposited on or before 30th April each year. - The money in the Deposit Repayment Reserve Account shall be used only for the purpose of repaying deposits when they become due and for no other purpose.
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संबंधित प्रश्न
Answer in one sentence.
When does a company create charge on it’s tangible assets?
When should a company file Return of Deposit?
Select the correct answer from the options given below and rewrite the statement:
For premature repayment of deposit, company deducts __________ % of interest.
Write a word or a term or a phrase which can substitute the following statement.
Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves.
Write a word or a term or a phrase which can substitute the following statement.
Maximum tenure of a deposit
Write a word or a term or a phrase which can substitute the following statement.
Time within which company has to issue deposit Receipt
Return of deposit must be filed every year on or before 31st March.
State whether the following statement is true or false.
Eligible public company can collect deposits from its members.
State whether the following statement is true or false.
A private company can collect deposits from public.
State whether the following statement is true or false.
Eligible public company can collect deposits from public not exceeding 35% of its paidup share capital and free reserves.
Complete the sentence:
Agency which gives ratings of the deposits of a company is called ______________.
Correct the underlined word and rewrite the following sentence.
Company appoints Credit Rating Agency to protect the interest of Depositors.
Correct the underlined word and rewrite the following sentence.
Charge on assets is created when company issues unsecured deposit.
Explain the following term/concept.
Deposit Insurance
State any four terms and conditions regarding acceptance of deposit.
Justify the following statement
While issuing secured deposits, company has to appoint Deposit Trustee.
Find the odd one.
Select the correct option from the bracket.
| Group ‘A’ | Group ‘B’ | ||
| a) | Retained earnings | 1 | ______ |
| b) | ______ | 2 | Written communication |
| c) | 36 months | 3 | ______ |
| d) | ______ | 4 | Charge on assets |
| e) | Cash sales | 5 | ______ |
(Less working capital, Correspondence, Secured debentures, Internal source of finance, Maximum tenure of deposits.)
Arrange in Proper Order:
(a) Payment of Deposits
(b) Deposit Receipt
(c) Acceptance of Deposit
