Practicing Success
Practicing Success
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| According to Companies Act, Minimum Subscription has been fixed at what percentage of the issued amount? |
25% 50% 90% No limit is prescribed |
| 90% |
| It is to be noted that ‘minimum subscription’ of capital cannot be less than 90% of the issued amount according to SEBI (Disclosure and Investor Protection) Guidelines, 2000. If this condition is not satisfied, the company shall forthwith refund the entire subscription amount received. If a delay occurs beyond 8 days from the date of closure of subscription list, the company shall be liable to pay the amount with interest at the rate of 15% [Section 73(2)]. |
