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Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram?
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Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Co...
Explanation of the Situation:
The company has an authorised capital of Rs10,00,000 which is divided into 1,00,000 shares of Rs10 each. The company issued 5000 shares at a premium of Rs5. The total amount to be paid per share is Rs10 (face value) + Rs5 (premium) = Rs15. The company asked for an application of Rs8, which includes the premium amount. The balance amount of Rs7 is to be paid in two calls - first and final call.
Subscription and Receipt of Amounts:
All 5000 shares were fully subscribed, and the company received the application money of Rs8 for all shares. However, the company only received the first and final call amount for 4500 shares. This means that the company did not receive the first and final call amount for 500 shares.
Case of Balram:
Out of these 500 shares for which the first and final call amount was not received, 500 shares were allotted to Balram. Therefore, Balram has not paid the first and final call amount for the shares allotted to him.
To rectify this situation, the company will need to follow up with Balram and request the payment of the first and final call amount for the 500 shares allotted to him. If Balram fails to make the payment, the company may take further actions as per the provisions of the Companies Act.
In conclusion, it is crucial for the company to ensure that all shareholders fulfill their payment obligations to maintain the financial health and compliance of the company.
The company has an authorised capital of Rs10,00,000 which is divided into 1,00,000 shares of Rs10 each. The company issued 5000 shares at a premium of Rs5. The total amount to be paid per share is Rs10 (face value) + Rs5 (premium) = Rs15. The company asked for an application of Rs8, which includes the premium amount. The balance amount of Rs7 is to be paid in two calls - first and final call.
Subscription and Receipt of Amounts:
All 5000 shares were fully subscribed, and the company received the application money of Rs8 for all shares. However, the company only received the first and final call amount for 4500 shares. This means that the company did not receive the first and final call amount for 500 shares.
Case of Balram:
Out of these 500 shares for which the first and final call amount was not received, 500 shares were allotted to Balram. Therefore, Balram has not paid the first and final call amount for the shares allotted to him.
To rectify this situation, the company will need to follow up with Balram and request the payment of the first and final call amount for the 500 shares allotted to him. If Balram fails to make the payment, the company may take further actions as per the provisions of the Companies Act.
In conclusion, it is crucial for the company to ensure that all shareholders fulfill their payment obligations to maintain the financial health and compliance of the company.
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Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram?
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Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted 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 Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram?.
Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted 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 Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram?.
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Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram?, a detailed solution for Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram? has been provided alongside types of Authorised capital of rs10,00,000 is divided 1,00,000 of rs10 each. Company issued 5000 shares at premium rs5 rs2 application rs8 including premium on allotment ans balance amount on first and final call . Issue was fully subscribed and all duly received except first and final call on 500 shares alloted to balram? theory, EduRev gives you an
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