Interest rate specification prescribes a fixed annual rate for overdue company deposits under the Companies Rules. The rule fixes the rate of interest applicable under the specified provision of the Companies Law: for purposes of the cited subsections addressing company deposits, the rate is prescribed as fifteen per cent per annum, providing a deterministic annual interest charge to be applied in computing liabilities or payments governed by those subsections.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest rate specification prescribes a fixed annual rate for overdue company deposits under the Companies Rules.
The rule fixes the rate of interest applicable under the specified provision of the Companies Law: for purposes of the cited subsections addressing company deposits, the rate is prescribed as fifteen per cent per annum, providing a deterministic annual interest charge to be applied in computing liabilities or payments governed by those subsections.
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