Isse of Shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2010
on approval from central Government, the rate of discount on issue of share can be ____percent of the nominal value of the shares
ans : 20
in the course material ans is not exceed 10% of the nominal value ofd shares
which ans is correct
Girish
ans : 20
in the course material ans is not exceed 10% of the nominal value ofd shares
which ans is correct
Girish
Venkat Rao Marella
(Expert)
23 July 2010
Sec 79 of the companies act mentions the rate cannot be more than 10%. the CG shall not approve / sanction any resolution for issuing share at a rate higher than 10% unless it is satisfied /justified depending upon the facts.
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