Q2062
Which of the following rules is not correct with regard to issue and forfeiture of shares?
A.
For each call, at least 14 days notice to be given
B.
An interval of 30 days is required between two successive share calls
C.
Not more than 40% of the nominal value of the share can be called at a time as a call
AnswerD.
As prescribed by SEBI, capital issues have to be made fully paid up within 12 months, if the total issue size is less than Rs. 500 crore
E.
A defaulting member does not enjoy voting rights till the call money is paid
Answer: Option C
Solution
Answer: Option C
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