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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.
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संबंधित प्रश्न
Answer in one sentence.
What is Deposit Repayment Reserve Account?
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.
Document issued by a company to invite its members to subscribe for its Deposits.
Write a word or a term or a phrase which can substitute the following statement.
Agreement between company and Deposit Trustee.
Write a word or a term or a phrase which can substitute the following statement.
Book which contains details of deposits accepted or renewed.
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.
State whether the following statement is true or false.
Deposit Receipt is issued within 21 days of receipt of deposits.
State whether the following statement is true or false.
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.
Correct the underlined word and rewrite the following sentence.
Minimum tenure of deposit is 36 months.
Arrange in proper order.
a. Appoint Deposit Trustee.
b. Hold General Meeting.
c. Create charge on assets.
Explain the following term/concept.
Secured Deposit
Answer in brief.
State the contents of circular or Advertisement for Deposit
Answer in brief.
State the provisions regarding appointment of Deposit Trustee.
Justify the following statement.
Company has to fulfill certain provisions related to issue of circular or advertisement.
Give one word or phrase for the following sentence:
Type of company that can accept deposits only from its members or directors.
