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Gaurav applied for 5000 share of 10. each at a premium of 2.5 but he was allotted only 2500 shares on pro rata basis after having paid 3 on application he did not pay allotment money. of 4.5 and on his subsequent failure to pay the first call of 2 his share are forfeited their share were reissue at rate 8?
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Gaurav applied for 5000 share of 10. each at a premium of 2.5 but he w...
Background:
Gaurav applied for 5000 shares at Rs. 10 each with a premium of Rs. 2.5. However, he was allotted only 2500 shares on a pro-rata basis after paying Rs. 3 on application.

Failure to pay allotment money:
Gaurav did not pay the allotment money of Rs. 4.5 per share. As a result, his shares were forfeited.

Forfeiture of shares:
Due to Gaurav's failure to pay the first call of Rs. 2 per share, his shares were forfeited by the company. This means that Gaurav lost ownership of these shares.

Reissue of forfeited shares:
The forfeited shares (2500 in total) were reissued by the company at a rate of Rs. 8 per share. This means that the company sold these shares to new investors at Rs. 8 each.
In summary, Gaurav's failure to pay the allotment money and the first call led to the forfeiture of his shares. These forfeited shares were then reissued by the company at a lower rate of Rs. 8 per share.
Community Answer
Gaurav applied for 5000 share of 10. each at a premium of 2.5 but he w...
J/E sabka krna h ye sirf forfeiture ka
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Gaurav applied for 5000 share of 10. each at a premium of 2.5 but he was allotted only 2500 shares on pro rata basis after having paid 3 on application he did not pay allotment money. of 4.5 and on his subsequent failure to pay the first call of 2 his share are forfeited their share were reissue at rate 8?
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Gaurav applied for 5000 share of 10. each at a premium of 2.5 but he was allotted only 2500 shares on pro rata basis after having paid 3 on application he did not pay allotment money. of 4.5 and on his subsequent failure to pay the first call of 2 his share are forfeited their share were reissue at rate 8? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Gaurav applied for 5000 share of 10. each at a premium of 2.5 but he was allotted only 2500 shares on pro rata basis after having paid 3 on application he did not pay allotment money. of 4.5 and on his subsequent failure to pay the first call of 2 his share are forfeited their share were reissue at rate 8? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Gaurav applied for 5000 share of 10. each at a premium of 2.5 but he was allotted only 2500 shares on pro rata basis after having paid 3 on application he did not pay allotment money. of 4.5 and on his subsequent failure to pay the first call of 2 his share are forfeited their share were reissue at rate 8?.
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