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 ... Summary
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.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.