1.

ASSERTION: SEBI the Regulatory authority for listed companies prescribes that the company must receive minimum subscription of 90% of the shares issued for subscription before it allots the shares. REASON: If minimum subscription is not received within the specified period, application money shall be refunded with 14 days from the closure of the issue. .(i) Both A and R are correct (ii) Both A and R are in correct (iii) A is correct but R is not correct (iv) A is incorrect by R is correct.

Answer»

(iii) A is correct but R is not correct 



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