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Question
State whether the following statement is true or false.
Company appoints Credit Rating Agency to protect the interest of depositors.
Options
True
False
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Solution
False
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Answer in one sentence.
When does a company create charge on it’s tangible assets?
When should a company file Return of Deposit?
Select the correct answer from the options given below and rewrite the statement:
Deposit is a type of ______________________.
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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Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves.
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Maximum tenure of a deposit
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Time within which company has to issue deposit Receipt
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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.
State whether the following statement is true or false.
Deposit Receipt is issued within 21 days of receipt of deposits.
State whether the following statement is true or false.
Deposit Trust Deed is an agreement between company and Deposit Trustee
Complete the sentence:
Agency which gives ratings of the deposits of a company is called ______________.
Complete the sentence:
Account which is used only for repaying deposits is called ______.
Correct the underlined word and rewrite the following sentence.
Minimum tenure of deposit is 36 months.
Explain the following term/concept.
Deposit Insurance
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.
Give one word or phrase for the following sentence:
Type of company that can accept deposits only from its members or directors.
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?
