State whether the following statements are true or false.1. Return of

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

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

Answer»

1. False

2. True

3. False

4. False

5. True

6. False

7. True

8. True

9. False

10. True

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