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Bhamashah Company Limited made an issue of 1,00,000 equity shares of Rs 10 each at a premium of 20% payable as follows: On application Rs 2.50 per share On allotment Rs 4.50 per share On first and final call – balance. Applications were received for 2,00,000 equity shares and directors made pro rata allotment Ramu, who had applied for 800 shares did not pay allotment and final call money with result his shares were forfeited. Later on, 80% of forfeited shares were reissued Rs 8 per share fully paid up. |
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Answer» Answer: follows: On APPLICATION Rs 2.50 PER share On allotment Rs 4.50 per share On FIRST and FINAL call – balance. Applications were received for 2,00,000 equity shares and directors made pro rata allotment Ramu, who had APPLIED for 800 shares did not pay allotment and final call |
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