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Explain the procedure of allotment of share?
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Answer:
# No call shall be more than 25% of the nominal value of each share.
# Interval between any two call should not be less than one month.
# At least 14 days notice must be given to each member for a cell specifying y amount,date and place of payment.
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Explanation:
Share allotment is the creation and issuing of new shares, by a company. New shares can be issued to either new or existing shareholders. Share allotment can have implications for any existing shareholders share proportion. Typically, new shares are allotted to bring on new business partners.
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