Interest on calls-in-arrear is charged according to "Table F" at the rate of .........p.a. |
6% 8% 10% 12% |
10% |
The correct answer is option 3- 10%. Interest on calls in arrears is charged according to 'Table F' at 10% p.a. If the Articles of Association are silent regarding the rate of interest on calls in arrears, the provisions of the Companies Act, 2013 (in India) would apply. As per Companies Act, 2013, the maximum rate of interest on calls in advance is 12% p.a. As per Companies Act, 2013, the maximum rate of interest on calls in arrears is 10% p.a. |