Question

the above.
Maximum Permissible Discount and Minimum Reissue Price at the time of Reissue
44. Determine the maximum permissible discount and minimum reissue price that a company can allow at
the time of reissue of forfeited shares in the following cases:
(1) A share of 10 originally issued at par on which application and allotment money of 5 was received.
(11) A share of 10 originally issued at a premium of 1 on which application and allotment money
(including premium) of 5 was received.
(iii) A share of 10 originally issued at a premium of 1 on which application and allotment money
(excluding premium) of 5 was received.​

Answer 1

Explanation:

65 is the unpaid amount. Now on reissue of such shares at discount, the maximum discount could be Rs. 35. In case the discount allowed is below Rs.