25 May 2011
Kindly clarify the following, A company has issued shares Rs.150 (face value Rs.10/- and premium Rs.140/-) with the following terms: On Application Rs.75/- On First Call Rs.40/- On Second Call Rs.35/- Now the shareholder has paid the application money and the first call(Total Rs.115) The share is traded in the market for Rs.400/-
Whether the shareholder who has paid Rs.115/- can sell the shares in the market from his demat account for Rs.400/-?
CAclubindia
