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ASSERTION: According to Sec 39(2) of the Companies Act, 2013, minimum application money should be 5% of the nominal (face) value of the share or such other percentage or amount as may be prescribed by Securities Exchange Board of India(SEBI)REASON: SEBI prescribes that application money should not be less than 25% of the issue price.(i) Both A and R are correct (ii) (ii) Both A and R are in correct (iii) A is correct but R is not correct explanation of A (iv) A is incorrect by R is correct.

Answer»

(iii) A is correct but R is not correct explanation of A 



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