Question

5. A Public limited company cannot make allotment of shares unless it receives the
necessary amount within 120 days from the date of the closure of the issue. Name this
amount and explain in detail.
4​

Answer 1

Answer:

If the company does not receive applications for at least 90% of the issued amount from public subscription within 120 days from the date of the opening of the issue,the company has to refund the amount of subscription.

This is called Minimum Subscription

Explanation:

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