Question

43. ABC Ltd. issued 1,000 shares of 100 each at a premium of 15 per share, payable as under
On Application 30; On Allotment * 45 (including premium); On First and Final Call 40. Mr.
Trivedi to whom 100 shares were allotted did not pay the allotment money. As a result his shares
were forfeited and they were re-issued to Mr. Chaturvedi at 95 per share as fully paid. Thereafter,
the call was made. The call money payable by Mr. Chaturvedi is -
(a) 4.000
(b) 500
(d) 200
(c) Nil​

Answer 1

Answer:

c : Nil

Explanation:

shares alloted to Mr. Chaturvedi are Fully paid @ 95 rs, thus no calls will be made !