Answer in one sentence.
1. Which companies can accept deposits from public ?
Ans: Eligible public and government companies can accept deposit.
2. What is the maximum deposit the Government company can collect ?
Ans: The maximum deposit the Government company can collect is not more than 35% of paid up capital and free reserves.
3. What is the tenure of a deposit ?
4. Who are Deposit Trustees ?
Ans: Deposit Trustees are the trustees who protect the interest of the Depositor.
5. What is Deposit Trust Deed?
Ans: The Deposit Trust deed contains the terms and conditions agreed upon or between the company and the Trustee.
6. When does a company create charge on its tangible assets ?
Ans: Company create charge on assets when company wants to issue secured debentures or deposits.
7. With in what period should a company issue Deposit Receipt ?
Ans: Company has to issue Deposit Receipt within 21 days from the date of receipt of the money or realisation of cheque
8. When should a company file Return of Deposit ?
Ans: Company should file Return of Deposits on or before 30th June, every year.
9. What is Deposit Repayment Reserve Account ?
Ans: Deposit Repayment Reserve Account is an account opened by company only for repayment of deposit money
10. What is Register of Deposit?
Ans: Deposit Register is a register having details like Name of the Depositors, Address, Investment period, repayment, etc.