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Practice question

Question

Pragya Ltd. forfeited 8,000 equity shares of ₹ 100 each issued at a premium of 10% for non-payment of first and final call of ₹ 30 per share. The maximum amount of discount at which these shares can be reissued will be

Options

Choose one · Correct answer highlighted

Explanation

₹ 2,40,000 company accounts correct; share issue forfeiture pro-rata per Companies Act.

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