As 'Calls in Advance' is a liability of the company, it is under obligation, if provided by the Articles, to pay interest on that amount from the date of its receipt up to the date when the appropriate call is due for payment. According to "Table F", interest on calls in advance cannot exceed __________.
As 'Calls in Advance' is a liability of the company, it is under obligation, if provided by the Articles, to pay interest on that amount from the date of its receipt up to the date when the appropriate call is due for payment. According to "Table F", interest on calls in advance cannot exceed __________.
Solution
✅ Correct Option: 3
Table F of Schedule I to the Companies Act, 2013 caps interest payable on calls in advance at per annum. For contrast, interest chargeable on calls in arrears under Table F is limited to per annum.
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