X ltd. invited general public to subscribe for its public issue of Rs. 10 Crore (10lack share of 100 each) Through issue of prospecter, however the company recieved applications for 8Lack shares. Can the company proceed with the allotment of share? Give reasons in support of your answers.
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Panchwati, a supplier from Nasik agrees to supply 100 crates of wine to Natwar Shah in Surat who pays an earnest money of Rs. 35,000. But there’s prohibition of alcohol in Gujarat and hence the supply of liquor is illegal. Can Mr. Shah sue the supplier for non-performance as well as get reimbursed
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