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Question
Write a word or a term or a phrase which can substitute the following statement.
Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves.
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Solution
Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves. - Government Company
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State any four terms and conditions regarding acceptance of deposit.
Select the correct option from the bracket.
| Group ‘A’ | Group ‘B’ | ||
| a) | Retained earnings | 1 | ______ |
| b) | ______ | 2 | Written communication |
| c) | 36 months | 3 | ______ |
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(Less working capital, Correspondence, Secured debentures, Internal source of finance, Maximum tenure of deposits.)
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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?
