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Sec 208 of companies act 1956
The payment of interest shall be made only for such period as may be determined by the Central Government ; and that period shall in no case extend beyond the close of the half-year next after the half-year during which the work or building has been actually completed or the plant provided.
Can someone explain by example
Replies (1)
Suppose the plant has been actually completed in June 16 i.e. during the half year Apr-Sep 16. Then the interest will be payable from the date of commencement of the plant upto March 17 (i.e. close of the half year after Apr-Sep) or such lower period determined by the government.
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