Practicing Success
R.Ltd invited applications for 15,000 shares of ₹10 each at premium of ₹2 per share. The amount was payable as follows: On the basis of the above information answer the question. |
Interest on calls in advance is allowed according to table F of Companies Act 2013 at the rate of: |
6% p.a. 12% p.a. 10% p.a. 5% p.a. |
12% p.a. |
Interest on calls in advance is allowed according to Table F of Companies Act, 2013 at the rate of 12% per annum. Table F states that the company may pay interest on calls in advance at such rate not exceeding 12% per annum as may be agreed upon between the Board and the member paying the sum in advance. |