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Acceptance of Deposits
Corporate & Other Laws
On 30th june Paid up shares capital of â?¹65lac,Free Reseve -â?¹10lac,Share premium -â?¹20 lack,Deposits of â?¹25 lac,replayble in the current F.Y During in the month of Sept 2017.In July 2017 ,the company was in need of some short term funds to the tune of â?¹20lac-6Months.the max amt which the company may hold as deposit together with existing deposits will be---------??????? Can any one explain it ?????!!!!!!!
Answers (3)
Best Answer
The question does not specify the type of company or the duration of the existing deposit. So, we can calculate for all possible types of companies. Total deposit the company can hold including existing deposits shall be calculated as follows. Eligible Co. - (a) from members - 10% of (PSC+FR+sp) = 9.5 L (b) from public- 25% of (PSC+FR+sp) = 23.75 Non Eligible Co. - (a) Specific Pvt Co- No limit (b) Othr pvt co. & IFSC - 100% of (PSC+FR+sp) = 95L (c) Others - 35% of (PSC+FR+sp)= 33.25L
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