According to the table F, What is the rate of interest that can be charged on call-in Arrears?
This question was previously asked in
Shift 12/06/2023 12:00 PM - 2:00 PM
A
10% p.a.
B
6% p.a.
C
8% p.a.
D
11% p.a.
Correct Answer
10% p.a.
Detailed Explanation
If the Articles of Association are silent regarding the rate of interest on calls in arrears, the provisions of the Companies Act, 2013 (in India) would apply. According to the Companies Act, the default rate of interest on calls in arrears is usually set at 10% per annum.
Therefore, the correct answer is:
(3) @ 10% p.a.
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