Question

the rate of discount on shares can not exceed​

Answer 1

Answer:

10%

The issue at a discount is authorized by a resolution passed by the company in the general meeting & sanctioned by the company law board. The maximum rate of discount must not exceed 10% or such rate as the company law board may permit.

Answer 2

Answer:

10%

Explanation:

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I honk its b+a(maybe the question is wrong). In this case the actual amount received becomes the forfeited amount. But the maximum permissible discount on reissue of shares will be equal to the amount forfeited plus the amount of discount initially allowed on these shares at the time of their original issue.

The issue at a discount is authorized by a resolution passed by the company in the general meeting & sanctioned by the company law board. The maximum rate of discount must not exceed 10% or such rate as the company law board may permit.

✵ Credits -Roshan ✵