Question

as per companies act 2013 the annual rate of intrested on calls in arrear is
a. 5%
b. 6%
c. 10%
d. 12% ​

Answer 1

Answer:

12%

Explanation:

If the articles do not contain such rate, Table F of the Companies Act 2013 will be applicable which leaves the matter to the Board of directors subject to a maximum rate of 12% p.a. It is to be noted that the interest payable on Calls-in- Advance is a charge against the profits of the company