Maharashtra State BoardHSC Commerce 12th Board Exam
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Silver Ltd. Company has recently come out with its public offer through FPO. Their issue was over subscribed. The Board of Directors now wants to start the allotment process Please advise the Board on - Secretarial Practice

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Short Note

Study the following case/situation and express your opinion.

Silver Ltd. Company has recently come out with its public offer through FPO. Their issue was over subscribed. The Board of Directors now wants to start the allotment process. Please advise the Board on:

  1. Should the company set up allotment committee?
  2. How should the company inform the applicants to whom the company is alloting shares?
  3. Within what period should the company issue share certificate?
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Solution

  1. Yes, the company should set up allotment committee. The allotment committee will decide the basis of allotment and submit a report to the board.
  2. The company should inform the applications to whom it is allotting shares by issuing letter of allotment or allotment advice.
  3. The company should issue share certificates within two months from the date of allotment of shares.
Concept: Allotment of Shares
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APPEARS IN

Balbharati Secretarial Practice 12th Standard HSC Maharashtra State Board
Chapter 3 Issue of Shares
Exercises | Q 3. 3. | Page 66
SCERT Maharashtra Question Bank 12th Standard HSC Secretarial Practice Maharashtra State Board 2022
Chapter 3 Issue of Shares
Study the following case/situation and express your opinion | Q 2
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