State whether the following statements are true or false.
1. Return of deposit must be filed every year on or before 31st March.
Ans: – False
2. Eligible public company can collect deposits from its members.
Ans:- True
3. Government company can collect deposits from its members.
Ans:- False
4. A private company can collect deposits from public.
Ans: – False
5. Deposit can be accepted for a maximum of 36 months.
Ans:- True
6. Eligible public company can collect deposits from public not exceeding 35% of its paid-up share capital and free reserves.
Ans:- False
7. For secured deposits, company has to create a charge on its tangible assets.
Ans:- True
8. Deposit Receipt is issued within 21 days of receipt of deposits.
Ans:- True
9. Company appoints Credit Rating Agency to protect the interest of depositors.
Ans:- False
10. Deposit Trust Deed is an agreement between company and Deposit Trustee.
Ans:- True