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Application of Shares

State the fol...

Question

State the following statement is True or False:
A letter sent to the applicant to whom shares are not allotted is known as Letter of Allotment.

A

True

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B

False

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Solution

The correct option is A True
A letter sent to the applicant to whom shares are not allotted is known as Letter of Allotment- this is a true statement. The letter of allotment is mainly useful to the buyer. It contains the details regarding the purchase or sell of the shares.
Hence the statement is true.

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Similar questions

Which letters are sent to the shareholders to whom shares have been allotted ?

The applicants who are allotted shares will be sent ___________ letter.

Q. Write a word/term/phare which can substitute the following statements:
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Q. Sony Media Ltd.issued 50,000 shares of ₹ 10 each payable ₹ 3 on application , ₹ 4 on allotment and balance on first and final call . Applications were received for 1,00,000 shares and allotment was made as follows :
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Q. A company invited applications for certain number of equity shares and received applications for more number of shares along with the applications money. Which of the following alternative can be followed?
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IV. Not to allot any shares to some applicants and make pro-rata allotment to other applicants.

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