Interest on calls in arrears is charged according to “Table F” not exceeding ______ p.a:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → 10%
The articles of a company may fix the interest on calls in arrears; where they are silent, Table F applies and allows interest at a rate not exceeding 10% p.a. on the unpaid amount, from the date fixed for payment to the date of actual payment. The 12% rate in Table F belongs to calls in advance, the money a shareholder pays before it is called.
NCERT (2026-27 edition):
|
