Rate of Interest

Can any one please let me know the Interest rate which a Company has to pay  in case the minimum subscripttion is not received and refubd to subscriber is delayed.

Replies (1)

in case of a 1st allotment of shares by a public comp, if a minimum subscripttion is not recieved then application money is 2 be repaid within 130 days n if it fails 2 pay then have 2 pay the application money with 6% interes after the expiry of 130 days.

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