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Question
State whether the following statement is true or false.
Eligible public company can collect deposits from its members.
Options
True
False
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Solution
Eligible public company can collect deposits from its members- True
RELATED QUESTIONS
When should a company file Return of Deposit?
Answer in one sentence.
What is Deposit Repayment Reserve Account?
Return of deposit must be filed every year on or before ______.
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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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Maximum tenure of a deposit
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Agreement between company and Deposit Trustee.
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Time within which company has to issue deposit Receipt
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Book which contains details of deposits accepted or renewed.
State whether the following statement is true or false.
Company appoints Credit Rating Agency to protect the interest of depositors.
Complete the sentence:
Account which is used only for repaying deposits 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.
Correct the underlined word and rewrite the following sentence.
Minimum tenure of deposit is 36 months.
Explain the following term/concept.
Deposit Trustee
Explain the following term/concept.
Deposit Repayment Reserve Account.
Answer in brief.
State the provisions regarding appointment of Deposit Trustee.
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.
