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Question
One of the conditions, in addition to others, for allotment of shares is ______.
Options
Resolution in General Meeting
Receiving Minimum Subscription
Full Subscription by Public
Full Payment on Application
MCQ
Fill in the Blanks
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Solution
One of the conditions, in addition to others, for allotment of shares is Receiving Minimum Subscription.
Explanation:
A company cannot proceed to allot shares unless it has received the minimum subscription stated in the prospectus (SEBI currently requires 90% of the issue). This is explicitly listed as a condition for allotment.
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Chapter 6: Company Accounts - Issue of Shares - OBJECTIVE TYPE QUESTIONS [Page 6.200]
