The company has to get minimum subscription within how many days from the date of the issue of the prospectus?
Answer & explanation
Correct answer: option 4
Correct answer: Option (4) → 120 days
Concept: Minimum subscription, from Accounting for Share Capital.
A company must obtain the minimum subscription within 120 days from the date of issue of the prospectus. If it is not received within this period, the company cannot proceed to the allotment of shares. Hence Option (4).