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Registration of a D of A and assent of creditors
A D of A will be void unless it is registered with the Registrar within 7 clear days after first execution and is properly stamped.Within 21 days after registration a deed for the benefit of creditors generally must be assented to by a majority in number and value of the creditors concerned. This assent can be given by the creditor signing the D of A or by signing a separate deed of assent. Further, the trustee appointed by the deed must file a statement that the necessary majority of creditors have assented to the deed. This declaration must be filed within 28 days after the D of A itself was registered.
Suppose you get a cash bonus of Rs.1, 00,000 that you deposit in a bank that pays 10 % annual interest. How much can you withdraw yearly for a period of 10 years? Solution :
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#what are the limitations or disadvantages of accounting concept?
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How is Accounting information useful to A prospective Investor?
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