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प्रश्न
State any four terms and conditions regarding acceptance of deposit.
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उत्तर
- Period/Tenure of Deposit: No deposit can be accepted or renewed that is to be repaid within a period of six months or more than thirty-six months. In certain circumstances, a company may accept deposits repayable earlier than six months to meet its short-term needs. Such deposits must have a tenure of at least three months, and the amount of such deposits cannot exceed 10% of the aggregate of the company’s paid-up share capital and free reserves. Under certain circumstances, at the depositor’s request, the company may make premature repayment of deposits. The company may also renew its deposits with the same terms of issue, which will be considered fresh deposits.
- No demand deposit: Company cannot accept or renew deposits repayable on demand.
- Secured or Unsecured Deposit: A company can accept a secured or unsecured deposit, which should be clearly mentioned in the circular or advertisement inviting deposits. If the company offers secured deposits, it must create a charge on its tangible assets within 30 days of accepting deposits.
- Application Form: A company has to provide an application form. It should contain a declaration by the applicant that the deposit he is making is not made out of any money he borrowed from another person.
- Joint names: Company can accept deposits in the joint names of depositors. But there should not be more than 3 names.
APPEARS IN
संबंधित प्रश्न
Answer in one sentence.
When does a company create charge on it’s tangible assets?
Select the correct answer from the options given below and rewrite the statement:
Deposit is a type of ______________________.
Select the correct answer from the options given below and rewrite the statement:
For premature repayment of deposit, company deducts __________ % of interest.
Return of deposit must be filed every year on or before ______.
Write a word or a term or a phrase which can substitute the following statement.
A company which can accept deposits from its members, directors, or their relatives not exceeding 100% of aggregate of paid up share capital and free reserves.
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.
Period within which a company has to create a charge on its tangible assets
Write a word or a term or a phrase which can substitute the following statement.
Agreement between company and Deposit Trustee.
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.
Deposit can be accepted for a maximum of 36 months.
State whether the following statement is true or false.
For secured deposits, company has to create a charge on its tangible assets.
State whether the following statement is true or false.
Company appoints Credit Rating Agency to protect the interest of depositors.
Select the correct option from the bracket.
| Group 'A' |
Group 'B' |
|
a) Government Company |
1) ___________________ |
|
b) ___________________ |
2) Deposits from members |
|
c) 36 months |
3) ___________________ |
|
d) ___________________ |
4) Charge on tangible assets |
|
e) Return of deposit |
5) __________________ |
(File on or before 30th June, Private Company, Secured deposits, Deposits from public, Maximum tenure of deposits.)
Correct the underlined word and rewrite the following sentence.
Charge on assets is created when company issues unsecured deposit.
Explain the following term/concept.
Tenure of Deposit
Explain the following term/concept.
Credit Rating
Answer in brief.
State the provisions regarding appointment of Deposit Trustee.
