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Question
Government company can collect deposits from its members.
Options
True
False
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Solution
This statement is False.
Explanation:
Government Company can accept deposits from public not exceeding 35% of the paid up share capital and free reserves of the company.
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RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement:
Deposit is a type of ______________________.
Select the correct answer from the options given below and rewrite the statement:
For premature repayment of deposit, company deducts __________ % of interest.
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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.
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Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves.
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Document issued by a company to invite its members to subscribe for its Deposits.
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Book which contains details of deposits accepted or renewed.
State whether the following statement is true or false.
Deposit Trust Deed is an agreement between company and Deposit Trustee
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Complete the sentence:
Agency which gives ratings of the deposits of a company 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.
Company appoints Credit Rating Agency to protect the interest of Depositors.
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Minimum tenure of deposit is 36 months.
Explain the following term/concept.
Eligible Public Company
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Tenure of Deposit
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Credit Rating
State any four terms and conditions regarding acceptance of deposit.
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Arrange in Proper Order:
(a) Payment of Deposits
(b) Deposit Receipt
(c) Acceptance of Deposit
