Acceptance of Deposit and Issue of the Deposit Receipt

From Application to Acceptance

A prospective depositor applies to the company on the prescribed application form (accompanying the circular the company has already issued to its members under Section 73(2), or the public advertisement issued under Section 76, exactly as Chapter 5 described), together with the deposit amount and the KYC documents the company's application form calls for. Once the company's Board — or an officer the Board has authorised — accepts the application, two things must promptly happen: the money is credited to the company's account, and, under the Companies (Acceptance of Deposits) Rules, 2014, the company must issue the depositor a Deposit Receipt within twenty-one days of receiving the money (or of the cheque being realised).

What the Deposit Receipt Must State

As Chapter 5 already established, the Deposit Receipt is the depositor's basic documentary proof of the debt, exactly as a share certificate or a debenture certificate is for those instruments, and it must state:

• The date of the deposit.
• The depositor's name and address.
• The amount deposited.
• The rate of interest payable.
• The date of repayment (the maturity date).

The Secretary's Covering Letter

The Deposit Receipt itself is a formal certificate, not a letter — so the Secretary's covering letter that forwards it simply confirms acceptance, restates the essential terms in ordinary prose (so the depositor need not decode the certificate to know them), and asks the depositor to preserve the receipt safely, since it will be required, duly discharged, at the time of renewal or repayment.

Specimen Letter — Acceptance of Deposit and Forwarding the Deposit Receipt

KONKAN AGRO INDUSTRIES LIMITED

Registered Office: Plot No. 14, MIDC Industrial Area, Ratnagiri – 415612

CIN: U01100MH2015PLC123456

Date: 5th April

To,

Mr. Suhas Rane,

14, Ganesh Nagar,

Ratnagiri – 415639

Dear Sir,

Sub: Acceptance of your Fixed Deposit — Deposit Receipt No. FD/2026/0142

We thank you for your application dated 28th March, offering to place a fixed deposit with our Company, and we are pleased to inform you that your deposit has been accepted on the following terms:

We enclose your Deposit Receipt No. FD/2026/0142, evidencing these terms. Kindly preserve this receipt carefully, as it will be required, duly discharged, at the time this deposit is renewed or repaid. Interest will be remitted to you annually on the due date, and we will write to you again well before the date of repayment regarding renewal or repayment of the deposit.

Thanking you for the confidence reposed in the Company.

Yours faithfully,

For Konkan Agro Industries Limited

(Anjali Deshpande)

Company Secretary

Encl: Deposit Receipt No. FD/2026/0142 …