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Can interest be paid on security deposit

This query is : Resolved 
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(Querist)
14 March 2019 Should a company who has taken security deposit from its distributors pay any interest on such deposit to the distributors?
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Amol S Joglekar

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Amol S Joglekar (Expert)
16 March 2019 not necessary. It will depend upon the agreement between the two parties.
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Bhaskaran Chackrapani Warrier

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Bhaskaran 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.
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Kenil Satra

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Kenil Satra (Querist)
16 March 2019 ok thank you very much
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Amol S Joglekar

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Amol S Joglekar (Expert)
17 March 2019 you are most welcome....
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