Question

Interest on calls in arrears is charged according to “Table F” at ______.

Options

• 10%

• 6%

• 8%

• 11%

Answer 1

Interest on calls in arrears is charged according to “Table F” at 10%.

Explanation:

As per Table F of Schedule I of the Companies Act, 2013, interest on Calls in Arrears is charged at the rate of 10% per annum, unless the company’s Articles of Association prescribe a different rate.