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Question
As per Table F of Schedule I to the Companies Act, 2013, interest on calls in arrears can be received at ______ p.a.
As per Table F of Schedule I to the Companies Act, 2013, interest on calls in arrears can be received at ______ p.a.
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Solution
The correct option is A 10%
As per section 16 of Table F, if a sum called in respect of a share is not paid before or on the day appointed for payment thereof, the person from whom the sum is due shall pay interest thereon from the day appointed for payment thereof to the time of actual payment at ten per cent per annum or at such lower rate, if any, as the Board may determine..
As per section 16 of Table F, if a sum called in respect of a share is not paid before or on the day appointed for payment thereof, the person from whom the sum is due shall pay interest thereon from the day appointed for payment thereof to the time of actual payment at ten per cent per annum or at such lower rate, if any, as the Board may determine..
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