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Question
Complete the sentence:
A Government company can accept deposits from public not exceeding ____________.
Solution
A Government company can accept deposits from public not exceeding 35% of its paid-up share capital and free reserves.
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RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement:
Eligible public company and Government Company can collect deposits from _____________.
Select the correct answer from the options given below and rewrite the statement:
Deposit Receipt is issued within ______________ days of receipt of deposit
Match the pairs.
|
Group 'A' |
Group 'B' |
|
a) Private Company |
10% of aggregate of paid-up share Capital + free reserves |
|
b) Deposit Trust Deed |
Signed at least 7 days before issuing advertisement |
|
c) Secured Deposit |
Maximum 30 months |
|
d) Tenure of deposit |
Charge on tangible assets |
|
e) Return of Deposit |
100% aggregate of paid-up share capital + free reserves |
|
File on or before 31st March every year |
|
|
Signed 21 days after issuing advertisement |
|
|
Maximum 36 months |
|
|
Charge on intangible assets |
|
|
File on or before 30th June every year |
Complete the sentence:
Company cannot accept or renew deposits repayable on _____________.
Correct the underlined word and rewrite the following sentence.
Government Company can accept deposit from members.
Arrange in proper order:
(a) File Return of deposit
(b) Issue Deposit Receipt
(c) Issue advertisement.
Study the following case/situation and express your opinion.
ABC Company Ltd. is an eligible Public Company as per the Companies Act, 2013 with reference to accepting Public Deposits.
Can the company accept deposits from it’s members?
Study the following case/situation and express your opinion.
ABC Company Ltd. is an eligible Public Company as per the Companies Act, 2013 with reference to accepting Public Deposits.
Can the company issue secured deposits?
Study the following case/situation and express your opinion.
Apple Company Ltd. is an eligible Public Company. It plans to raise secured deposits from the public. Please advice its Board on the following.
Does the company need to get shareholders approval for accepting deposits?
Study the following case/situation and express your opinion.
Apple Company Ltd. is an eligible Public Company. It plans to raise secured deposits from the public. Please advice its Board on the following.
Does the company have to appoint a Debenture Trustee?
Study the following case/situation and express your opinion.
Apple Company Ltd. is an eligible Public Company. It plans to raise secured deposits from the public. Please advice its Board on the following.
Within what period should the company create a charge on it’s assets?
Study the following case/situation and express your opinion.
SUN Pvt. Ltd. company wants to raise funds through deposits.
What is the maximum period for which they can accept deposits?
State the amount of deposits that different types of companies can collect by way of deposits.
Justify the following statement
There is a limit or restriction on the amount that a company can collect as Deposits.
Answer the following question:
Explain the type of companies that can raise deposits along with the maximum amount they can raise as deposits.
Study the following case/situation and express your opinion.
SUN Pvt. Ltd. company wants to raise funds through deposits.
- Can the company accept deposits from the public?
- Which document should the company issue to invite deposits?
- What is the maximum period for which they can accept deposits
Study the following case/situation and express your opinion:
ABC Limited a registered company has a clause of accepting deposits from the General Public in a Memorandum of association.
- Management has not passed a resolution in the board meeting for accepting deposits.
- Shareholder has not accepted the resolution and still company receives a deposit from general public.
