If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of:

Correct option is A

In case the minimum subscription is not reached, the application deposit should be refunded. The refund should be made within fifteen days* from the date of closure of the issue. In case there is a delay beyond fifteen days, the applicants should be repaid with interest at the rate of fifteen per cent per annum. The directors of the company should also bear the liability to meet the interest obligation. The refund should be made directly to the bank account of the applicant.
* The no of days are fifteen as mentioned as per Companies Act 2013. Companies Act 1956, mentions this as eight days.
However, the answer in case of both scenarios is fifteen percent.