Question

Select the most appropriate answer from the alternatives given below and rewrite the sentence :

As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be______________ percent.
a) 10
b) 5
c) 20
d) 15

Answer 1

As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be 5 per cent.

Explanation: Minimum amount payable on share application should be 5% of the nominal value of the share.