26 December 2009
Thanks for the reply experts but, Sec 92 mentions payment of interest at a rate not more than 6% on calls paid in advance. Sec 93 mentions that dividends may be paid on advance calls if so authorised by AoA. So I wish to know if AoA mentions payment of dividend on calls paid in advance, will a company be required to pay both the interest as well as dividend on such advance amount?
CAclubindia
