Maharashtra State BoardHSC Commerce 12th Board Exam
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Explain the following term/concept.Credit Rating - Secretarial Practice

Short Note

Explain the following term/concept.
Credit Rating

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Solution

(1) Every company accepting deposits from the public shall obtain the credit rating (including its net worth, liquidity, and ability to pay its deposits on due date) from a recognised credit rating agency.
(2) The rating shall be obtained for every year during the tenure of deposits. A copy of the credit rating shall be submitted to ROC.

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