Question
A reserve account that shall not be used by the company
for any purpose other than repayment of deposits is called_____.Solution
According to Section 73(2) (c) of the Companies Act, 2013, depositing such sum which shall not be less than 15% of the amount of its deposits maturing during a financial year and the financial year next following, and kept in a scheduled bank in a separate bank account to be called as deposit repayment reserve account.
More Other Laws and Acts Questions
[{(1296 ÷ 18) ÷ 12} ÷ 6] + 82 + √625 = ?
10% of 100 + 14 = ?% of 120
- What will come in the place of question mark (?) in the given expression?
If 1.123 × 3.211 = 3.122 + ______________, then the number in blank space is
9 × 4 ? ÷ 16 = 144
(60/15) × 25 + 15 2 – 18% of 200 = ? 2
(3984 ÷ 24) x (5862 ÷ 40) = ?
? = 6.25% of 240 + 252 + 172 – 16 × 17
53 – 8 = ? + 126
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