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Question
Justify the following statement.
Company has to fulfill certain provisions related to issue of circular or advertisement.
Solution
- 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.
- The company has to file a copy of the circular or advertisement with the Registrar of Companies.
- The company can issue a circular or advertisement only after 30 days of filing a copy of the circular or advertisement with the Registrar of Company (ROC).
RELATED QUESTIONS
Select the correct answer from the options given below and rewrite the statement:
For premature repayment of deposit, company deducts __________ % of interest.
Return of deposit must be filed every year on or before ______.
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.
Book which contains details of deposits accepted or renewed.
State whether the following statement is true or false.
Deposit can be accepted for a maximum of 36 months.
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.
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.
Minimum tenure of deposit is 36 months.
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
State any four terms and conditions regarding acceptance of Deposit.
Find the odd one.
Give one word or phrase for the following sentence:
Type of company that can accept deposits only from its members or directors.
