Match the LIST-I with LIST-IILIST-ILIST-IIA.Section 43 of Companies A…

Match the LIST-I with LIST-II

LIST-I		LIST-II
A.	Section 43 of Companies Act, 2013	I.	Calls in advance
B.	Interest @10% p.a	II.	One person company
C.	Section 2(62) of Companies Act, 2013	III.	Preference shares and Equity shares
D.	Interest @12% p.a	IV.	Calls in Arrear

Choose the correct answer from the options given below:

Answer & explanation

Correct answer: option 3

The correct answer is Option (3) → A-III, B-IV, C-II, D-I

Two items are sections of the Companies Act, 2013 and two are the interest rates of Table F, which apply when the articles of association are silent.

(A) Section 43 of Companies Act, 2013 — this matches (III) Preference shares and Equity shares. The section lays down the two kinds of share capital and defines an equity share as one that is not a preference share.

(B) Interest @10% p.a — this matches (IV) Calls in Arrear. A shareholder who pays a call late is charged interest at not more than 10% a year.

(C) Section 2(62) of Companies Act, 2013 — this matches (II) One person company. The section defines a company with only one person as a member.

(D) Interest @12% p.a — this matches (I) Calls in advance. The company pays interest at not more than 12% a year on money received before the call is made. It pays the higher rate on money it gets early and charges the lower rate on money it gets late.

NCERT (2026-27 edition):
Equity Shares – “According to Section 43 of The Companies Act, 2013, an equity share is a share which is not a preference share.”

NCERT (2026-27 edition):
One Person Company (OPC) – “… One Person Company (OPC): Sec. 2 (62) of the companies Act, 2013, defines OPC as a “company which has only one person as a member”.”

NCERT (2026-27 edition):
Calls in Arrears – “… 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.”

NCERT (2026-27 edition):
Calls in Advance – “Sometimes shareholders pay a part or the whole of the amount of the calls not yet made. The amount so received from the shareholders is known as “Calls in Advance”. The amount received in advance is a liability of the company and should be credited to ‘Call in Advance Account.” The amount received will be adjusted towards the payment of calls as and when they becomes due. Table F of the Companies Act provides for the payment of interest on calls in advance at a rate not exceeding 12% per annum.”