A company having only a natural person as an Indian citizen and resident in India and cannot carry out non-banking financial investment activities. Its paid-up share capital is not more than Rs. 50 lakhs. Its average annual turnover of three years does not exceed Rs. 2 crores. Which type of company is this?

Bajaj Sales Ltd. issues 20,000 equity shares of Rs. 20 each to the public. The amount is payable as,

On application Rs. 4 per share

On allotment Rs. 4 per share

On first call Rs. 6 per share

On final call Rs. 6 per share

All money has been received on shares. Only one shareholder, who has 200 shares could not pay allotment money and his shares have been forfeited before making first call. Forfeited shares have been re-issued at Rs. 18 fully paid-up. What is the amount of capital reserve?

Securities Premium can be used only for the following purposes:

A. To issue fully paid bonus shares to the extent not exceeding unissued share capital of the company;

B. To issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

C. To write-off the expenses of, or commission paid, or discount allowed on any securities of the company; and

D. Purchase of its own shares (i.e., buy back of shares)

Choose the correct answer from the options given below:

What is the correct sequence of allotment of shares

A. Allotment money received

B. Inviting applications from investors

C. Allotment Due

D. Application money Received

E. Share Call Money Due

Choose the correct answer from the options given below :

Choose the correct order regarding issue of shares process.

A. Receipt of Applications

B. Issue of Prospectus

C. Allotment of Shares

D. Forfeiture of share

Choose the correct answer from the options given below:

Varun Ltd. forfeited 40,000 equity shares of Rs. 100 each for non-payment of first and final call of Rs. 40 per share. The maximum amount of discount per share at which these shares can be re-issued will be :-

At the time of forfeiture, share capital account is