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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?
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.
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.
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.
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.
Government company can collect deposits from its members.
Find the odd one
Complete the sentence:
Account which is used only for repaying deposits is called ______.
Correct the underlined word and rewrite the following sentence.
Company issues advertisement to invite its members for subscribing to its deposits
Correct the underlined word and rewrite the following sentence.
Charge on assets is created when company issues unsecured deposit.
Arrange in proper order.
a. Appoint Deposit Trustee.
b. Hold General Meeting.
c. Create charge on assets.
Explain the following term/concept.
Tenure of Deposit
Explain the following term/concept.
Charge on tangible assets
Answer in brief.
State the contents of circular or Advertisement for Deposit
Answer the following question:
Explain the provisions related to circular or advertisement for inviting deposits.
