Allotment of shares partly paid up

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 February 2012 Hi friends,

A pvt. ltd. co. wants to allot 1 lac equity shares of face value Rs.10/- each at a premium of Rs.490/- . Now the company has already received Rs.330.00 lacs i.e. 1 lac shares @ Rs.330/- each. My query is should i do the allotment by showing Rs.10/- face value fully paid up and remaining portion as partly paid up premium amount i.e. [Rs.10 lacs received as fully paid up face value + Rs.320 lacs received towards premium amount] Please give your views.

Guest

Guest (Expert)

23 February 2012 Yes, you can show Rs. 10/- as application money and Rs. 320/- as allotment money. Rest 170/- can be shown as call money.