A shareholder holding 600 shares paid the amount of the call @ ₹75 per share on Ist November 2021 whereas the call was due on Ist March 2022. For how many months interest on calls in advance is paid by the company and what will be the maximum rate of interest that can be paid by the company?

4 Months, 12%p.a.

The advance payment was made for 4 months i.e. 1st Nov to 1 March. As per the Companies Act, 2013, the maximum rate of interest on calls in advance is 12% p.a.