Parking of excess fund in liquid funds/fixed deposits
This query is : Resolved
ashok bhurani
(Querist)
29 December 2016
Please help on the following
Private limited company has excess bank balance in current account. Can a company park its excess fund in liquid funds/sweep in fixed deposit account (where it can earn 7% interest as against NIL interest in current account) or the object clause of company must mention that the company will earn interest income on fixed deposit/liquid fund
Private limited company has excess bank balance in current account. Can a company park its excess fund in liquid funds/sweep in fixed deposit account (where it can earn 7% interest as against NIL interest in current account) or the object clause of company must mention that the company will earn interest income on fixed deposit/liquid fund
CA R SEETHARAMAN
(Expert)
29 December 2016
Company can park its excess funds in liquid funds/fixed deposits with banks.
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ashok bhurani
(Querist)
30 December 2016
Thank you Mr. Seetharaman
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