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ASSERTION: if a shareholder does not pay the call amount due on allotment or on any calls according to the terms, the amount so not received is called call in arrears.REASON: Table F of the companies Act, shall apply which provides for interest on calls in arrears 10% p.a.(i) Both A and R are correct (ii) Both A and R are in correct (iii) A is correct but R is not correct (iv) A is incorrect by R is correct.

Answer»

Correct option is (i) Both A and R are correct



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