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The maximum tenure for which a company can accept or renew deposits from members or public is:
A12 months
B36 months
C24 months
D48 months
Answer & Solution
Correct answer: B. 36 months
1. Rule 3(1) caps the deposit tenure at 36 months.
2. Deposits beyond 36 months violate the Rules.
3. Hence (C).
_Source: ICAI BoS CA Inter Paper 2 — Acceptance of Deposits_