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X ltd. invited general public to subscribe for its public issue of Rs. 10 Crore (10lack share of 100 each) Through issue of prospecter, however the company recieved applications for 8Lack shares. Can the company proceed with the allotment of share? Give reasons in support of your answers. |
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Answer» Explanation: a Ltd.was issued certificate of incorporation by the registrar on 10th FEBRUARY 2018 power the date mentioned on the certificate was 1ST February 2018 the COMPANY entered into a contract for purchase of land with B Ltd on 5TH February 2018 now be Ltd is not interested to sell the lack as it is getting the higher price from another buyer can a Ltd file CASE against B Ltd give reasons in support of your answer |
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