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Question
State whether the following statement is true or false.
Deposit can be accepted for a maximum of 36 months.
Options
True
False
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Solution
True
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Answer in one sentence.
What is Deposit Repayment Reserve Account?
Write a word or a term or a phrase which can substitute the following statement.
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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Minimum tenure of a deposit.
Write a word or a term or a phrase which can substitute the following statement.
Maximum tenure of a deposit
State whether the following statement is true or false.
Eligible public company can collect deposits from public not exceeding 35% of its paidup share capital and free reserves.
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For secured deposits, company has to create a charge on its tangible assets.
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Deposit Trust Deed is an agreement between company and Deposit Trustee
Find the odd one.
Find the odd one
Correct the underlined word and rewrite the following sentence.
Company issues advertisement to invite its members for subscribing to its deposits
Arrange in proper order.
a. Appoint Deposit Trustee.
b. Hold General Meeting.
c. Create charge on assets.
Explain the following term/concept.
Deposit Trustee
Explain the following term/concept.
Charge on tangible assets
Answer in brief.
State the contents of circular or Advertisement for Deposit
Justify the following statement.
Company has to fulfill certain provisions related to issue of circular or advertisement.
Justify the following statement.
Companies have to create a charge on their tangible assets while issuing secured deposits.
Answer the following question:
Explain the provisions related to circular or advertisement for inviting deposits.
Find the odd one.
