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?
Menu
Shares transfer
Replies (2)
| Originally posted by : prasath | ||
 |
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? |
 |
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.
Recent Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
