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Question
Explain the following term/concept.
Credit Rating
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Solution
(1) Every company has to get credit rating of its deposits and include the ratings in the circular or advertisement. The credit rating agency considers the net worth of the company, liquidity position, ability to repay deposits on time etc.
(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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RELATED QUESTIONS
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.
Return of deposit must be filed every year on or before ______.
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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.
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Arrange in proper order.
a. Obtain Credit Rating.
b. Entries in Register of Deposits.
c. Issue Deposit Receipt.
Explain the following term/concept.
Charge on tangible assets
Answer the following question:
Explain the provisions related to circular or advertisement for inviting deposits.
Give one word or phrase for the following sentence:
Type of company that can accept deposits only from its members or directors.
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Study the following case/situation and express your opinion.
| CC Company Ltd. is an eligible Public Company as per the Companies Act, 2013 with reference to accepting Public Deposits. |
- Can the company accept deposits in joint names?
- Can the company accept deposits from its members?
- Can the company issue secure deposits?
