Question

XY Limited issued 2,50.000 equity shares of Rs. 10 each at a premium of Rs. 1 each payable as
Rs. 25 on application, Rs. 4 on allotment and balance on the first and final call. Applications
were received for 5,00,000 equity shares but the company allotted to them only 2,50,000 shares.
Excess money was applied towards amount due on allotment. Last call on 500 shares was not
received and shares were forfeited after due notice. This is a case of:
a) Over subscription
b) Pro-rata allotment
c) Forfeiture of shares
d) All of the above​

Answer 1

Answer:

Option D all of these

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Answer 2

D.) All of the above

As more than given use was done of the share,the data was also allotted and Forfeiture (loosing of data) was also done.