alleryStart learning →If application money in a private placement is not repaid in time, interest is payable at what rate per annum?
ASix per cent
BNine per cent
CTwelve per cent
DFifteen per cent
Answer & Solution
Correct answer: C. Twelve per cent
Section 42(6) imposes interest at twelve per cent per annum from the expiry of the sixtieth day.
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