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Question
Complete the sentence:
Company cannot accept or renew deposits repayable on _____________.
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Solution
Company cannot accept or renew deposits repayable on Demand.
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Answer in one sentence.
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Within what period should a company issue Deposit Receipt?
Select the correct answer from the options given below and rewrite the statement:
Eligible public company and Government Company can collect deposits from _____________.
Select the correct answer from the options given below and rewrite the statement:
A __________ Company can accept deposits from public not exceeding 35% of its paid-up share Capital and free reserves..
Deposit can be accepted for a minimum of 6 months and a maximum for ______ months.
Match the pairs.
|
Group 'A' |
Group 'B' |
|
a) Private Company |
10% of aggregate of paid-up share Capital + free reserves |
|
b) Deposit Trust Deed |
Signed at least 7 days before issuing advertisement |
|
c) Secured Deposit |
Maximum 30 months |
|
d) Tenure of deposit |
Charge on tangible assets |
|
e) Return of Deposit |
100% aggregate of paid-up share capital + free reserves |
|
File on or before 31st March every year |
|
|
Signed 21 days after issuing advertisement |
|
|
Maximum 36 months |
|
|
Charge on intangible assets |
|
|
File on or before 30th June every year |
Complete the sentence:
Deposits can be accepted or renewed for a period not less than 6 months and not more than ___________.
Correct the underlined word and rewrite the following sentence.
Government Company can accept deposit from members.
Arrange in proper order:
(a) File Return of deposit
(b) Issue Deposit Receipt
(c) Issue advertisement.
Study the following case/situation and express your opinion.
ABC Company Ltd. is an eligible Public Company as per the Companies Act, 2013 with reference to accepting Public Deposits.
Can the company issue secured deposits?
Study the following case/situation and express your opinion.
Apple Company Ltd. is an eligible Public Company. It plans to raise secured deposits from the public. Please advice its Board on the following.
Within what period should the company create a charge on it’s assets?
Study the following case/situation and express your opinion.
SUN Pvt. Ltd. company wants to raise funds through deposits.
Which document should the company issue to invite deposits?
State the amount of deposits that different types of companies can collect by way of deposits.
Justify the following statement:
There is a limit or restriction on the amount that a company can collect as deposits.
Study the following case/situation and express your opinion.
Apple Company Ltd. is an eligible Public Company. It plans to raise secured deposits from the public. Please advise its Board on the following.
- Does the company need to get shareholders’ approval for accepting deposits?
- Does the company have to appoint a Debenture Trustee?
- Within what period should the company create a charge on its assets?
Study the following case/situation and express your opinion:
ABC Limited a registered company has a clause of accepting deposits from the General Public in a Memorandum of association.
- Management has not passed a resolution in the board meeting for accepting deposits.
- Shareholder has not accepted the resolution and still company receives a deposit from general public.
