Deposit Company Document For Free

Deposits are a means through which companies generally acquire funding. The provisions concerning deposits are covered under Sections 73 to 76 of the Companies Act, 2013, which are generally read with the prescribed Rules.

Convene general meeting and pass Special resolution for acceptance of deposits. Comply with the Rules prescribed in consultation with RBI and terms and conditions mutually agreed by the company and deposit holders either for acceptance or for repayment of deposits.

Any amount received from an employee of the company not exceeding his annual salary under a contract of employment with the company in the nature of non-interest-bearing security deposit; any non-interest-bearing amount received and held in trust.

Procedure for acceptance of deposits from members: Pass board resolution. Pass a resolution in general meeting. (Ordinary Resolution will serve the purpose) Appoint trustee and execute trust deed in DPT-2 atleast 7 days before issuance of circular to members (for secured deposits).

The limits for acceptance of deposits from its members is ? one hundred per cent, of aggregate of the paid-up share capital and free reserves, which includes security premium reserves also. Such company shall file the details of monies so accepted to the Registrar in DPT-3.

A Security Deposit means the money a company gives as to any other person, (for example, a landlord or seller of the property) to secure the property against any damages which may happen in the future. It is an asset to the Company and Comes under long term loans and advances.

Thus, it can accept deposits from its members as well as from the public. Yes. The company can issue secured deposits. If a company offers secured deposits, it has to create a charge on its tangible assets within 30 days of acceptance of deposits.

Procedure for acceptance of deposits from members: Pass board resolution. Pass a resolution in general meeting. (Ordinary Resolution will serve the purpose) Appoint trustee and execute trust deed in DPT-2 atleast 7 days before issuance of circular to members (for secured deposits).

An example of deposit is the money added to a savings account. An example of deposit is the gold left in the bottom gravel of the stream. Deposit is defined as to place, entrust, put, lay or set down for safekeeping or payment. An example of deposit is someone putting money in their bank account.

A Deposit Receipt is a receipt issued by a receiving party, also known as the depositary by someone who is known as a depositor. This document is commonly used by banks when receiving a check of cash deposit from clients and such receipt is given to the depositor as proof of deposit.