Question

Select the most appropriate answer from the alternatives given below and rewrite the sentence :
As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be______________ percent.

Options

• 10

• 5

• 20

• 15

Answer 1

As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be 5 per cent.

Explanation: Minimum amount payable on share application should be 5% of the nominal value of the share.