Maitaning liquid assets

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 April 2012 As per rule 3A it is Required that Company Accepting deposit from public Required to Maintain 15% liquid assets.

now, question is 15% of deposit Maturing During year? or 15% of all deposits Accepted During the year?

Ajay Mishra

Ajay Mishra (Expert)
Follow

24 April 2012 Hi

The amount for which the above deposits will be made will not be less than 15% of the amount of deposits maturing up to 31st March of the following year and the above said deposit will not be utilised for any purpose other than the repayment of deposits maturing during the year up to 31st March of the following year.

For example:

If Rs. 750,00,000 matures as on 31.03.2012 then it is required to deposit up to 30.04.2012 of rs. 1,12, 50,000 (15%)in specified manner.

Regards

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now