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Allotment of securities

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 August 2015 Kindly explain Section 39 (2) practically (in form of number like we see accounting questions), I am a li'l bit confused in this one.
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Pratik Shah

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Pratik Shah (Expert)
28 August 2015 That means.
Suppose, the company is issuing 1000 shares of Rs 100 each i.e. total Rs 100000 capital.
Now, out of Rs 100, the subscribers has to pay atleast Rs 5 per share at the time of making application for subscribing the Offer. Subscribers can not pay below Rs 5 per share at the time of Application.
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