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State whether the following statement is true or false. For secured deposits, company has to create a charge on its tangible assets.

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Question

State whether the following statement is true or false.

For secured deposits, company has to create a charge on its tangible assets.

Options

  • True

  • False

MCQ
True or False
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Solution

True

shaalaa.com
Terms and Conditions for Acceptance of Deposits
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Chapter 5: Deposits - Exercises [Page 90]

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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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Period within which a company has to create a charge on its tangible assets


Write a word or a term or a phrase which can substitute the following statement.
Document issued by a company to invite its members to subscribe for its Deposits.


Write a word or a term or a phrase which can substitute the following statement.

Agreement between company and Deposit Trustee.


Write a word or a term or a phrase which can substitute the following statement.
Book which contains details of deposits accepted or renewed.


Find the odd one.


Complete the sentence:
Agency which gives ratings of the deposits of a company is called ______________.


Select the correct option from the bracket.

Group 'A'

Group 'B'

a) Government Company

1) ___________________

b) ___________________

2) Deposits from members

c) 36 months

3) ___________________

d) ___________________

4) Charge on tangible assets

e) Return of deposit

5)   __________________

(File on or before 30th June, Private Company, Secured deposits, Deposits from public, Maximum tenure of deposits.)


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Company appoints Credit Rating Agency to protect the interest of Depositors.


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a. Appoint Deposit Trustee.
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Explain the following term/concept.
Deposit Trustee


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Charge on tangible assets


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Deposit Insurance


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Deposit Repayment Reserve Account.


Answer in brief.
State the provisions regarding appointment of Deposit Trustee.


State any four terms and conditions regarding acceptance of deposit.


Justify the following statement.

Company has to fulfill certain provisions related to issue of circular or advertisement.


Justify the following statement
While issuing secured deposits, company has to appoint Deposit Trustee.


Justify the following statement.

Companies have to create a charge on their tangible assets while issuing secured deposits.


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