Question

what is meant by minimum subscription

Answer 1

when company is not able to get 90% of issued share

Answer 2

Where a company makes an offer to the public for subscription of its securities ,no allotment of any securities shall be made unless the following 2 conditions are satisfied

1) The amount stated in the prospectus as the minimum subscription is subscribed.

2) The sum payable on the application in respect of minimum subscription is received by the company by cheque or other instrument.