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Deposits premature repayment concept.
Corporate & Other Laws
Mam, please answer the below MCQ with reason
Answers (2)
Ans D Relevant Rule 15 of Companies (Acceptance of deposits) Rules, 2014 : Where a company makes a repayment of deposits, on the request of the depositor, after the expiry of a period of six months from the date of such deposit but before the expiry of the period for which such deposit was accepted, the rate of interest payable on such deposit shall be reduced by one per cent. (9% - 1%= 8%) from the rate which the company would have paid had the deposit been accepted for the period for which such deposit had actually run and the company shall not pay interest at any rate higher than the rate so reduced
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