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Question
Explain the following term/concept.
Tenure of Deposit
Solution
(1) Deposits can be accepted for a minimum period of 6 months and a maximum period of 36 months.
(2) However, for short term requirements, deposits up to 10% of the aggregate paid-up capital, free reserves, and securities premium account can be accepted for a period of less than six months but not less than three months Rule 3(2) of Companies (Acceptance of Deposits) Rules, 2014.
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RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement:
Deposit is a type of ______________________.
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.
Document issued by a company to invite its members to subscribe for its Deposits.
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.
Return of deposit must be filed every year on or before 31st March.
State whether the following statement is true or false.
For secured deposits, company has to create a charge on its tangible assets.
State whether the following statement is true or false.
Company appoints Credit Rating Agency to protect the interest of depositors.
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.
Arrange in proper order.
a. Obtain Credit Rating.
b. Entries in Register of Deposits.
c. Issue Deposit Receipt.
Explain the following term/concept.
Secured Deposit
Explain the following term/concept.
Credit Rating
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.
Answer the following question:
Explain the provisions related to circular or advertisement for inviting deposits.
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?
