Accounting · Issue of Shares
Which of the following statements are correct regarding 'Minimum Subscription' requirements during the issue of corporate shares? A. Minimum subscription must not fall below 90% of the total issued amount. B. Under Companies Act provisions, a company must secure the minimum subscription within 120 days from prospectus issuance. C. If minimum subscription is not achieved, the company can retain up to 10% to cover preliminary expenses. D. Delay in refunding application money beyond prescribed days makes the company liable to pay interest at 15% per annum. Choose the most appropriate answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A, B and C Only
- 2A, B and D Only✓
- 3B, C and D Only
- 4A, C and D Only
Correct answer
A, B and D Only
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