Section 32 in The Central Warehousing Corporation Rules, 1963
32. Payment of interest on call or instalment.
(1)If the sum payable in respect of any call or instalment is not paid on or before the day appointed for payment thereof, the holder for the time being of the share in respect of which the call has been made shall pay interest for the same at the rate of nine percent. per annum or at such other rate as the Board may determine, from the day appointed for the payment thereof to the date of actual payment.(2)The board may in its absolute disceretion waive payment of interest under this rule.
