Gujarat BoardEnglish MediumSTD 11 CommerceSPCCProspectus2 Marks
Question
What are the effect in case of failure to get Minimum Subscription?
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Answer
If the company does not have the minimum payment application: -
1. The company cannot allot shares.
2. The applicants have to repay the amount as per the instructions given by SEBI.
3. If a public company violates this provision, the responsible officers are liable to penalty.
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