Practicing Success
Practicing Success
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| How much interest a company can charge from the shareholders on the calls in arrears? |
10% p.a. 12% p..a. 5% p.a. None of these |
| 10% p.a. |
| A company is authorised to charge Interest on Calls in Arrears from the due date to the date of actual payment at a rate specified in the articles of the company. However, if the articles of the company are silent, then Table F of Schedule I of the Companies Act, 2013 will be applicable for charging interest at a rate not exceeding 10% p.a. Besides, the directors of the company have the right to waive payments of such interests in part or whole |
