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In the case of issue of shares, the amount on any call should not exceed .......... of the face value of shares.

Solution

✅ Correct Option: 1

Under the Companies Act read with Table F, no call may exceed one-fourth of the nominal (face) value of a share. So the ceiling on any single call is 25%25\% of face value. This is why a typical issue is structured as application, allotment and calls, each within the 25%25\% limit on calls.

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