Comment on the following: No company can invite Deposit without entering into a contract for deposit insurance.
CS Executive · Company Law · PYQS · June 2023
Comment on the following: No company can invite Deposit without entering into a contract for deposit insurance.
Answer & Explanation:
The provision related to extent and manner of deposit insurance has been omitted according to Companies (Acceptance of Deposits) Amendment Rules, 2018 dated 05.07.2018. Therefore, the company can invite the deposits without entering into contract for deposit insurance.
Topics: Deposits
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