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Question
As per Table F of Schedule I of the Companies Act, 2013, interest on calls in advance can be paid at _______ p.a.
As per Table F of Schedule I of the Companies Act, 2013, interest on calls in advance can be paid at _______ p.a.
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Solution
The correct option is C 12%
As per section 18 of the Table F, upon all or any of the monies so advanced, may pay interest at such rate not exceeding, unless the company in general meeting shall otherwise direct, twelve per cent per annum, as may be agreed upon between the Board and the member paying the sum in advance.
As per section 18 of the Table F, upon all or any of the monies so advanced, may pay interest at such rate not exceeding, unless the company in general meeting shall otherwise direct, twelve per cent per annum, as may be agreed upon between the Board and the member paying the sum in advance.
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