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Deposits

Sir , in case of ceiling limit of deposits We know private companies ceiling limit is 100% (paid up share capital + Free reserves ) Does it also includes security premium sir ?


M.V. Naresh

M.V. Naresh

CA Inter

2K+

23-Nov-20 20:32

21

Answers (3)

Also , The Deposit Repayment Reserve Should.be invested 1) 20% (Deposits maturing in Current year + maturing in next financial year ) or 2) 20 % ( deposits maturing during the following financial year ) Which is correct sir ?


M.V. Naresh

M.V. Naresh

CA Inter

2K+

23-Nov-20 21:06

Yes. "private company may accept from its members monies not exceeding one hundred per cent of aggregate of the paid up share capital, free reserves and securities premium account "


Suraj Lakhotia

Suraj Lakhotia

Admin

25-Nov-20 12:18