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प्रश्न
Answer in brief.
State the contents of circular or Advertisement for Deposit
उत्तर
Circular or Advertisement: If a company invites deposits from its members, it issues a circular. But if it invites deposits from the public, the company has to issue an advertisement.
a) Contents of circular or advertisement:
i) Statement about the financial position of the company
ii) The portion of secured and unsecured deposit of fresh issue
iii) Credit rating obtained from a Credit Rating Agency (only for an eligible public company)
iv) Details of the scheme
v) Name of Deposit Trustees
vi) Amount due towards deposits of any previous deposits accepted by the company.
b) Filing of circular or advertisement with Registrar of Companies: Company has to file a copy of the circular or Advertisement signed by all directors with the Registrar of Companies.
c) Issue of circular or Advertisement: Only after 30 days of filing a copy of circular or Advertisement with the Registrar of Companies, the company can issue the circular or advertisement.
The company can send the circular to the members through registered post, speed post, or as email.
For inviting the public, the company has to publish the advertisement in one English newspaper and one vernacular newspaper having wide circulation in the state where the company's registered office is located.
d) The validity of circular or advertisement: The circular or advertisement is valid for 6 months from the end of the financial year in which it was issued or the date on which the Annual General Meeting was held, whichever is earlier.
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संबंधित प्रश्न
When should a company file Return of Deposit?
Select the correct answer from the options given below and rewrite the statement:
For premature repayment of deposit, company deducts __________ % of interest.
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.
Write a word or a term or a phrase which can substitute the following statement.
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
Write a word or a term or a phrase which can substitute the following statement.
Agreement between company and Deposit Trustee.
State whether the following statement is true or false.
Eligible public company can collect deposits from its members.
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.
State whether the following statement is true or false.
Deposit Receipt is issued within 21 days of receipt of deposits.
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.
Charge on assets is created when company issues unsecured deposit.
Arrange in proper order.
a. Appoint Deposit Trustee.
b. Hold General Meeting.
c. Create charge on assets.
Explain the following term/concept.
Tenure of Deposit
Justify the following statement
While issuing secured deposits, company has to appoint Deposit Trustee.
Select the correct option from the bracket.
| Group ‘A’ | Group ‘B’ | ||
| a) | Retained earnings | 1 | ______ |
| b) | ______ | 2 | Written communication |
| c) | 36 months | 3 | ______ |
| d) | ______ | 4 | Charge on assets |
| e) | Cash sales | 5 | ______ |
(Less working capital, Correspondence, Secured debentures, Internal source of finance, Maximum tenure of deposits.)
Give one word or phrase for the following sentence:
Type of company that can accept deposits only from its members or directors.
Arrange in Proper Order:
(a) Payment of Deposits
(b) Deposit Receipt
(c) Acceptance of Deposit
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?
