Sanjay CO LTD was incorporated with an authorised share capital of 10000 equity share of 10 each. The director decided to allot rs 10,000 shares Credited as their services fully paid to the promotors for their services. The company also purchase land and building from Ram for rs 400000 payable in fully paid up share of the company.
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Gopal Ltd. was registered with an authorised capital of Rs.50,00,000 divided into Equity Shares of Rs.10 each. The company offered for public subscription all the shares. Public applied for 4,50,000 shares and allotment was made to all the applicants. All the calls were made and were duly received except the final call of Rs.2 per share on 500 shares.
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