Question : Interest on calls in arrears is charged according to Table F at-
Option 1: 10%
Option 2: 12%
Option 3: 5%
Option 4: 6%
Answer (1)
25th Jan, 2024
Correct Answer: 10%
Solution :
Calls in arrears refer to the unpaid portion of the share price of shares that have been issued by a company. Companies have the authority to charge interest on unpaid calls as a means of encouraging shareholders to fulfill their obligations promptly and to compensate the company for the delay in receiving payment. According to the Table F of the Companies Act, 2013, interest on calls in arrears is 10%.
Hence, the correct answer is option 1.
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