Fixed Deposit


What are the schemes available for deposit?

Cumulative deposits with Quarterly compounding are available for a period of two years and three years.

What is the minimum deposit required?

Minimum Rs. 2,00,000/- and additional amount can be in multiples of Rs. 50,000/-

How do I tender the amount for the deposit? Is there a prescribed form for making the deposit?

The amount can be tendered via A/C payee Cheque or DD issued in favour of BCL Industries
Ltd. Application form for the deposit can be obtained in the below ways:
a. Website of the Company i.e. www.bcl.ind.in (Soft Copy)
b. Registered Office (Printed Copy)
c. By writing email at fd@bcl.ind.in (Soft & Printed Copy)
d. By writing Letter to the Company (Printed Copy)
e. By asking for Application Form on Phone (Soft & Printed Copy)

Under what regulations are the fixed deposits of BCL Industries Ltd. Governed?

The Company is a Listed Eligible Company and is inviting and accepting Deposits
under the provisions of Section 73(2)(a), Section 76 and Rule 4(1) and 4(2) of the
Companies (Acceptance of Deposits)Rules, 2014.

Who can invest in BCL’s deposit scheme

Shareholders of the Company as well as Public can invest in the Company’s Deposit
Scheme. Deposits will be accepted only from Resident Members/public.

When is income tax deducted from interest?

if the estimated annual interest paid/credited or likely to be credited/paid on the deposit/s
exceeds or is likely to exceed Rs. 5,000 /- during the financial year (i.e. year 2019-20), it is
obligatory on the part of the deductor of tax to deduct income tax at source. However, to avoid such deduction of Tax, the investors can furnish self-declaration in Form 15G/H or by
submitting the Exemption certificate from the respective Income Tax Authority for every
financial year before beginning of that financial year.

In situation of emergency, are premature withdrawals allowed?

YES. But no pre-mature withdrawal of deposits is allowed within a period of less than six
months from the date of acceptance or renewal of such deposit.
For pre-mature withdrawal of deposits after the expiry of a period of six months from the date
of such deposit, the Company will allow such withdrawal subject to reduction in rate of
interest by 1% from the applicable rate of interest, for which tenure deposit remain invested
with the Company. For the above purpose broken period of less than six months will be
ignored and six months and above will be considered as full year. This is subject to terms &
conditions as given in Rule 15 of Companies (Acceptance of Deposit Rules), 2014, as

What is the process to get a premature withdrawal?

For Premature Withdrawal, the Physical Deposit Receipt, must be discharged by all the joint
holders along with a written request for pre-mature withdrawal signed by all of them.

Can the investor be paid back in cash?

Deposit will be paid back only to the corresponding bank account updated in the records
of the Company.

Will the FD be transferable?

FD is non-transferable.

How can the FD be renewed?

Subject to the FD scheme being open, the deposit may be renewed on maturity by submitting
a duly filled fresh FD Application Form. It is necessary that the fresh FD Application Form
should be submitted along with the duly discharged old FD receipt with revenue stamp of
requisite value. The renewal will be subject to the terms and conditions of the FD scheme as
applicable on the maturity date of the old deposit.

Can the investor be given a duplicate receipt if the original is lost?

In the event of loss of the Fixed Deposit Receipt, the Company should be immediately
informed about the loss. The Company may issue a duplicate Fixed Deposit Receipt subject
to non-encashment of the original instrument, upon receipt from the depositor a ‘letter of loss
of instrument’ and an Indemnity Bond in the prescribed format signed by all Deposit holders to
its satisfaction and after compliance with such other formalities as may be required by the

What documents are required if the sole depositor passes away?

An attested copy of Death certificate, Term Deposit Receipts, Will or testamentary disposition,
if any, or an attested copy of Legal Heirship Certificate issued by a Tahsildar /corporations.

How can I apply online without physically going to BCL Industries Ltd’s corporate office?

Forms can be obtained on our website https://www.bcl.ind.in/. Printed and duly signed copies
of the Application Form alongwith required Documents can be submitted to the Registered
Office of the Company via Speed Post/ Registered Post/Courier or by hand.