If the amount of subscription received is not refunded within $120$ days from the date of issue of prospectus the directors are responsible to refund the money along with the interest @ % interest after days ___.

8

120

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6

130

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9

110

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5

130

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Solution

The correct option is B $6$ %, $130$
If the company fails to obtain the entire amount payable on applications for shares in respect of minimum subscription on the expiry of 120 days after the issue of prospectus then the company shall forthwith repay all money received from applicant of shares with interest at the rate of 6% p.a. from the expiry of 130 days.

If the default is made in repayment of application money on expiry of 130 days, every promoter, director or any other person who is responsible shall be punishable with fine which may extend to fifty thousand rupees.

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Similar questions

Q. Prospectus must be issued to public within ______ days from date of filing with Registrar.

Q. On 1.1.2015, X Ltd. makes an issue of 1,00,000 equity shares of Rs. 100 each payable as follows:

	Rs.
Application	20
Allotment	30 (3 months after allotment)
Final Call	50

Applications were received for 1, 20,000 shares and the directors refunded the excess application money. One shareholder, who was allotted 2,000, shares, paid first and final call with allotment money and another shareholder did not pay allotment money on his 3,000 shares but which he paid with first and final call. Directors have decided to charge and allow interest, according to the Table F of Schedule I to the Companies Act, 2013. The amount of interest on calls-in-arrear will be _____.

Q. If a company is not able to refund the excess amount of share within the reasonable time. The Company will give them Interest

@

_______.

Find the mode

$\begin{matrix} C l a s s i n t e r v a l & 100 - 110 & 110 - 120 & 120 - 130 & 130 - 140 & 140 - 150 F r e q u e n c y & 8 & 9 & 11 & 12 & 10 \end{matrix}$

___

Find the median of the following data.

$\begin{matrix} C l a s s i n t e r v a l & 100 - 110 & 110 - 120 & 120 - 130 & 130 - 140 & 140 - 150 F r e q u e n c y & 6 & 9 & 14 & 2 & 19 \end{matrix}$

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If the amount of subscription received is not refunded within 120 days from the date of issue of prospectus the directors are responsible to refund the money along with the interest @ ______ % interest after days _________.

If the amount of subscription received is not refunded within $120$ days from the date of issue of prospectus the directors are responsible to refund the money along with the interest @ % interest after days ___.