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?
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Replies (2)
| Originally posted by : prasath | ||
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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? |
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Hi Prashanth
In my view, Unless the call amounts are paid, the shareholder will not be entitled to sell such shares.
Only Shareholders has to pay for the second call.
Other views solciited
regards
Santosh Shah
pl. check the ISIN allotted to this scrip. it must be for the partly paid shares.
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