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'Tractors India Ltd.' is registered with an authorised capital of 10,00,000 divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shares at premium of 35 per share, 2 per shares were payable with application, 38 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balram.?
Most Upvoted Answer
'Tractors India Ltd.' is registered with an authorised capital of 10,0...
Explanation:
Authorized Capital:
The authorized capital of Tractors India Ltd. is 10,00,000, which means the company has the authority to issue equity shares up to this amount.
Equity Shares:
The company has divided its authorized capital into 1,00,000 equity shares of 10 each. This means that each equity share has a face value of 10.
Issue of Shares:
The company issued 50,000 equity shares at a premium of 35 per share. This means that the issue price of each share was 45 (10 face value + 35 premium).
Payment Schedule:
According to the payment schedule, 2 per share was payable with the application, 38 per share (including premium) on allotment, and the balance amount on the first and final call.
Subscription and Allotment:
The issue was fully subscribed, which means that the company received applications for all the 50,000 shares issued. The allotment was made to the subscribers based on their applications.
Amount Received:
The company received all the amounts due from the subscribers except the first and final call money on 500 shares allotted to Balram. This means that Balram has not paid the balance amount on the shares allotted to him.
Implications:
- As per the terms of the issue, the company has the right to make a call for the first and final payment from the shareholders.
- Since Balram has not paid the first and final call money, the company can take legal action against him to recover the amount.
- Until the first and final call money is paid, the shares allotted to Balram will remain partly paid.
- The company can forfeit the shares if the first and final call money is not paid within a specified time period.
Authorized Capital:
The authorized capital of Tractors India Ltd. is 10,00,000, which means the company has the authority to issue equity shares up to this amount.
Equity Shares:
The company has divided its authorized capital into 1,00,000 equity shares of 10 each. This means that each equity share has a face value of 10.
Issue of Shares:
The company issued 50,000 equity shares at a premium of 35 per share. This means that the issue price of each share was 45 (10 face value + 35 premium).
Payment Schedule:
According to the payment schedule, 2 per share was payable with the application, 38 per share (including premium) on allotment, and the balance amount on the first and final call.
Subscription and Allotment:
The issue was fully subscribed, which means that the company received applications for all the 50,000 shares issued. The allotment was made to the subscribers based on their applications.
Amount Received:
The company received all the amounts due from the subscribers except the first and final call money on 500 shares allotted to Balram. This means that Balram has not paid the balance amount on the shares allotted to him.
Implications:
- As per the terms of the issue, the company has the right to make a call for the first and final payment from the shareholders.
- Since Balram has not paid the first and final call money, the company can take legal action against him to recover the amount.
- Until the first and final call money is paid, the shares allotted to Balram will remain partly paid.
- The company can forfeit the shares if the first and final call money is not paid within a specified time period.
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'Tractors India Ltd.' is registered with an authorised capital of 10,00,000 divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shares at premium of 35 per share, 2 per shares were payable with application, 38 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balram.?
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'Tractors India Ltd.' is registered with an authorised capital of 10,00,000 divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shares at premium of 35 per share, 2 per shares were payable with application, 38 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balram.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 'Tractors India Ltd.' is registered with an authorised capital of 10,00,000 divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shares at premium of 35 per share, 2 per shares were payable with application, 38 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balram.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 'Tractors India Ltd.' is registered with an authorised capital of 10,00,000 divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shares at premium of 35 per share, 2 per shares were payable with application, 38 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balram.?.
'Tractors India Ltd.' is registered with an authorised capital of 10,00,000 divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shares at premium of 35 per share, 2 per shares were payable with application, 38 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balram.? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 'Tractors India Ltd.' is registered with an authorised capital of 10,00,000 divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shares at premium of 35 per share, 2 per shares were payable with application, 38 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balram.? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 'Tractors India Ltd.' is registered with an authorised capital of 10,00,000 divided into 1,00,000 equity shares of 10 each. The company issued 50,000 equity shares at premium of 35 per share, 2 per shares were payable with application, 38 per share (including premium) on allotment and the balance amount on first and final call. The issue was fully subscribed and all the amount due was received except the first and final call money on 500 shares allotted to Balram.?.
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