Can interest be paid on security deposit

14 March 2019
Should a company who has taken security deposit from its distributors pay any interest on such deposit to the distributors?

Amol S Joglekar (Expert)

Click to Talk 16 March 2019
not necessary. It will depend upon the agreement between the two parties.

B.Chackrapani Warrier (Expert)
16 March 2019
I think interest bearing security deposit (not refundable) partakes the character of
DEPOSIT as per Companies (Acceptance of Deposits) Rules,2014.

Shantilal Satra (Querist)
16 March 2019
ok thank you very much

Amol S Joglekar (Expert)

Click to Talk 17 March 2019
you are most welcome....

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