alleryStart learning →Where must the deposit repayment reserve sum be kept?
AIn government securities
BWith the Registrar office
CWith the Tribunal registry
DIn a scheduled bank
Answer & Solution
Correct answer: D. In a scheduled bank
Section 73(2)(c) requires the sum to sit in a separate account with a scheduled bank so that it stays available for repayments.
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Related questions
Where must a company inviting public deposits upload the circular?A deposit circular stays valid for how long after the financial year closes (at most)?Who signs the circular copy sent to the Registrar under Rule 4(5)?On whose authority and name must a deposit circular be issued?An eligible company's public deposit circular is issued in which form?A section 73(2) company can send its member circular by which mode?After issuing the circular, what may a company not reserve a right to do?Who alone is entitled to brokerage on deposits procured for a company?