Dear All
One of our foreign subsidiary company has subscribed 99000 shares in MOA at the time of incorporation. But it transferred share application money in acounts of the company in installments. Out of these 99000 shares 9000 shares were allotted to the shareholders at a premium of Rs. 25 and other 90000 shares at par. So my query is that whether subscribed shares can be issued at premium or not? Shareholders do no have any problem with this.
Quick reply will be highly appreciable.