Accounting for Share Capital · Class 12 · CBSE · Commerce Accountancy
As per the Companies Act, 2013, what is the minimum percentage of the nominal value of share capital that must be collected as minimum subscription b…
Practice question from Accounting for Share Capital (Class 12 · CBSE · Commerce Accountancy), with the correct answer and a step-by-step solution.
easy · MCQ · Q-709C86
As per the Companies Act, 2013, what is the minimum percentage of the nominal value of share capital that must be collected as minimum subscription before proceeding with the allotment of shares?
- A.50%
- B.75%
- C.90%Correct answer
- D.100%
Solution
According to SEBI guidelines and the Companies Act, 2013, a company cannot allot shares to the public unless at least 90% of the issued amount has been subscribed as minimum subscription.
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