ABC Limited has received application money of rupees - 20,00,000 (2,00,000 equity shares of rupees 10 each) on 10 th October, 2024 from the…
CA Intermediate · Corporate and Other Laws · MTP · May 2025
ABC Limited has received application money of rupees - 20,00,000 (2,00,000 equity shares of rupees 10 each) on 10 th October, 2024 from the applicants who applied for allotment of shares in response to a private placement offer of securities made by the company to them. Select the latest date by which the company must allot the shares against the application money so received.
Suggested Answer and Working Notes:
Correct Answer: Option (C)
9 th December, 2024
Topics: The Foreign Exchange Management Act, 1999, Prospectus and Allotment of Securities
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