Match List-I with List-II List-I List-II (A) Interest on calls in arr…

Match List-I with List-II

List-I	List-II
(A) Interest on calls in arrears	(I) Preference Shares
(B) Interest on calls in advance	(II) OPC
(C) Sec.2(62) of The Companies Act, 2013 defines	(III) 12%
(D) Sec.43 of The Companies Act, 2013 defines	(IV) 10%

Choose the correct answer from the options given below:

Answer & explanation

Correct answer: option 2

The correct answer is Option (2) → (A)-(IV), (B)-(III), (C)-(II), (D)-(I)

Where the Articles are silent, Table F of the Companies Act, 2013 fixes the interest on unpaid and advance calls, and two sections of the Act give the definitions asked here.

(A) Interest on calls in arrears — this matches (IV) 10%. A shareholder who pays a call late is charged interest at a rate not exceeding 10% p.a. under Table F.

(B) Interest on calls in advance — this matches (III) 12%. Money paid before the call is due is a liability of the company, and Table F allows interest on it at a rate not exceeding 12% p.a.

(C) Sec.2(62) of The Companies Act, 2013 defines — this matches (II) OPC. Section 2(62) defines a One Person Company as a company which has only one person as a member.

(D) Sec.43 of The Companies Act, 2013 defines — this matches (I) Preference Shares. Section 43 lays down the conditions a preference share must fulfil (preference in dividend and in return of capital); an equity share is one that is not a preference share.

NCERT (2026-27 edition):
Calls in Arrears – “… The Articles of Association of a company may empower the directors to charge interest at a stipulated rate on calls in arrears. If the articles are silent in this regard, the rule contained in Table F shall be applicable which states that the interest at a rate not exceeding 10% p.a. shall have to be paid on all unpaid amounts on shares for the period intervening between the day fixed for payment and the time of actual payment thereof.”

NCERT (2026-27 edition):
Calls in Advance – “… As ‘Calls in Advance’ is a liability of the company, it is under obligation, if provided by the Articles, to pay interest on such amount from the date of its receipt up to the date when appropriate call is due for payment. A stipulation is generally made in the Articles regarding the rate at which interest is payable. However, if Articles are silent on this account, Table F is applicable which provides for interest on calls in advance at a rate not exceeding 12% per annum.”

NCERT (2026-27 edition):
Kinds of Companies – “… One Person Company (OPC): Sec. 2 (62) of the companies Act, 2013, defines OPC as a “company which has only one person as a member”.”

NCERT (2026-27 edition):
Preference Shares – “According to Section 43 of The Companies Act, 2013, a preference share is one, which fulfils the following conditions : (a) That it carries a preferential right to dividend to be paid either as a fixed amount payable to preference shareholders or an amount calculated by a fixed rate of the nominal value of each share before any dividend is paid to the equity shareholders.”