Question

What is maximum permissible discount on reissue of shares?

Answer 1

A company forfeited shares of Rs. 100each. Rs. 35 has been paid by the shareholder Rs. 65 is the unpaid amount. Now on reissue of such shares at discount, the maximum discount could be Rs. 35.

Answer 2

The maximum permissible amount is what the shares were released or forfeited for at the time of issue of the shares.

Explanation:

• The shares which had been issued can be released and reissued again. The reissue of the shares would at the amount equal to when they were bought and would be at par with the amount.
• But if the shares were bought at a discounted price then the the total amount is what was received at the time the shares were released and also the discount that was payable at the time of issue the first time.  It cannot go over the amount that had been received at the time the shares were forfeited.
• If the shares were bought at a premium and  if the premium has been paid for then the reissue amount for the share is calculated as the forfeited amount and the premium amount received at the time of issue

To know more about issue of shares

Difference between bonus share issue and right share issue

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