Company Accounts

Share Capital

Hard

If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of:

15%

12%

Prevailing in State Bank of India

✅ Correct Option: 1

If a company takes more than 8 days (15 days now) to refund a subscription amount after closing the list, they must pay interest.

The interest rate for this delay is set at 15%.

So, if you choose option 1, you are correct.

This means the company is responsible for paying you extra money because they delayed the refund.

2025: 4 June Shift 2

The Profit on reissue of forfeited shares is transferred to:

2023: 20 June Shift 2

Securities premium cannot be used:

2025: 14 May Shift 1

Shares can be forfeited :

2026: 6 June Shift 1

Vesting is a process to give right to ........................ to apply for shares of the company.

2023: 28 May Shift 1

Match List - I with List - II.

List - I	List - II
(A) Application money should be at least ____% of the face value of the share	(I) 25%
(B) The amount of Call should not exceed ____% of the face value of the share	(II) 90%
(C) Minimum subscription of capital cannot be less than ____ of the issued amount according to SEBI guidelines	(III) 10%
(D) Interest charged on call-in-arrears is @ ______ p.a.	(IV) 5%

Choose the correct answer from the options given below :

2025: 4 June Shift 2

200 shares of Rs. 100 each issued at a premium of Rs.10 were forfeited for the non-payment of allotment money of Rs. 60 (including premium) per share. The first and final call of Rs. 20 per share on these shares were not made. The forfeited shares were reissued at Rs. 70 per share as fully paid-up. Capital reserve created after reissue will be:

If a delay occurs beyond 8 days in refunding the subscription amount, failing to gather the minimum subscription, from the date of closure of the subscription list, the company shall be liable for interest at the rate of:

Solution

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