A share of ₹100 was originally issued at a premium of ₹20 on which application and allotment money of ₹60 (excluding premium) was received. What will be the maximum permissible discount at the time of the reissue of this forfeited share?

₹40 ₹50 ₹60 ₹70

₹60

The amount received excluding premium is ₹60 which will be the maximum permissible discount