Question

Bhuvan Ltd. Issues 5,00,000 shares
of Rs. 10 each for public
subscription. Application along with
money was received for 4,00,000
share. Can company allot these
shares? Explain.​

Answer 1

Answer:

yes

Explanation:

Company can allot these share because this case is undersubscription means issued share is more than the subscribed share in this the company only allot the 400000 share instead of 500000 beacuse application is received for only 4 lakh