Heights Ltd., issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 5 (including premium) on allotment and the balance on first and final call
Heights Ltd., issued 60,000 shares of ₹ 10 each at a premium of ₹ 2 per share payable as ₹ 3 on application, ₹ 5 (including premium) on allotment and the balance on first and final call. Applications were received for 92,000 shares. The directors resolved to allot shares as follows:
Mohan who had applied for 800 shares in Category (i) and Sohan who was allotted 600 shares in Category (ii) failed to pay the allotment money. Calculate the amount received on
| Category (i) Applicants of 40,000 shares | 30,000 shares; |
| Category (ii) Applicants of 50,000 shares | 30,000 shares; |
| Category (iii) Applicants of 2,000 shares | Nil |
Anurag Pathak Answered question September 12, 2024
