When an unlisted Co. going for public issue Whether the condition is (Proposed issue+Prev. issues) in the same year should not exeed 5 times of its preissue networth Or 5 times of its pre issue share capital?
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CA Final Nov07 CLSP
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The condition is total issues during the year should not exceed 5 times the opening net worth
It is the total of proposed issue and all the previous issue in the same financial year of the issue should not exceed 5 times of the networth.
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