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Question
Answer in one sentence.
When does a company create charge on it’s tangible assets?
Solution
Company create charge on assets when company wants to issue secured debentures or deposits.
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RELATED QUESTIONS
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.
Company which can accept deposits from public up to 35% of its paid-up share capital and free reserves.
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Period within which a company has to create a charge on its tangible assets
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Book which contains details of deposits accepted or renewed.
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Deposit can be accepted for a maximum of 36 months.
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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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Deposit Receipt is issued within 21 days of receipt of deposits.
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Deposit Trust Deed is an agreement between company and Deposit Trustee
Find the odd one.
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.
Charge on assets is created when company issues unsecured deposit.
Explain the following term/concept.
Eligible Public Company
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Secured Deposit
Explain the following term/concept.
Deposit Trustee
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Deposit Repayment Reserve Account
Answer in brief.
State the provisions regarding appointment of Deposit Trustee.
Justify the following statement.
Companies have to create a charge on their tangible assets while issuing secured deposits.
