Practicing Success
Give answer on the basis of Information given below. Poonam Ltd. invited application for 5,00,000 shares of ₹10 each @10% premium payable as follows: Application - ₹3 Applications were received for 6,60,000 shares. Application for 60,000 shares were rejected and pro-rata allotment was made as follows: (a) 4,00,000 shares - full Mr. Aman, who was allotted 500 shares under category (a), paid full amount along with allotment money. Whereas another shareholder, Mr. Rahul who was allotted 1000 shares under category (b) failed to pay the allotment money. His shares were subsequently forfeited. These shares were reissued at ₹14 per share for ₹7 paid up. Final call has not yet been made. |
How many shares are applied by Rahul? |
1000 2000 1500 1800 |
2000 |
The correct answer is Option (2) Those who alloted 100000 shares applied for 200000 shares. Rahul allotted shares = 1000
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