According to 'Table F', interest on calls-in-arrears is charged at: |
11% 8% 6% 10% |
10% |
The correct answer is Option (4) → 10% " 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." |