Creative Ltd issued equity shares Rs.10,00,000 divided into Rs.10 shares were allotted in full to the remaining applicants. All the money due was 6at a premium @ 20% per share, payable as under:On Application Rs.3 per shareOn Allotment Rs.5 per share (including premium)On First and Final Call BalanceOver payments on application were to be applied towards sums due on allotment. Where no allotment was made, money was to be refunded in full. The issue was oversubscribed to the extent of 1,20,000 shares. Applicants for 10,000shares were sent letters of regret. Shares duly received except a shareholder who applied for 110 shares failed to pay allotment and first call his share were forfeited and re-issue at Rs.950 fully paid up.
Posted by Krazy Girl
8 months, 2 weeks ago