Fixed Deposit
This query is : Resolved
Navendu Agarwal
(Querist)
04 April 2011
Please provide what accounting should be followed when depositor not claimed deposit principal and interest on maturity.(all legal compliance)
06 April 2011
Would depend upon which type of company is yours . i.e bank, NBFC or a normal company etc.. cos each of them has there own procedures as laid down by law
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Navendu Agarwal
(Querist)
07 April 2011
Please provide me for public ltd. Company
21 April 2011
as per law u would need to keep the liability in your books for 7 years and thereafter transfer to investor education and protection fund
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