Sale of partly paid shares
This query is : Resolved
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/-?
If yes, who has to pay the money for second call?
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/-?
If yes, who has to pay the money for second call?
26 May 2011
Only fully paid up shares can be transferred.......
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- 44AD VS 44AB AUDIT
- Purchase of property from NRI
- CESS not claimed in GSTR3B either in inward supplies or outward supplies for the period Oct2025
- How to pay tds on mhada property
- NRI get transferred fund from his own Indian account to his foreign US account without any approval
- GST APPLICABILITY TO DIAGNOSTIC
- Query Regarding Refund Adjustment Against Outstanding Demand
- Seeing a huge entry in AIS Purchase of time deposits (SFT-005), what it is for
- Itr processing delay
- Amount Received in Trust Account
- Value of Perquisite Sec.10 (10CC)
- Multiple GST under same PAN
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
