khushboo (CS) (234 Points)
19 May 2010I HAVE A QUERY THAT WHEN SECURITIES ISSUED AT PREMIUM THEN IS THAT COMPULSORY TO CALL PREMIUM AT A SINGLE TIME
CAN WE CALL PREMIUM ON APPLICATION THEN ON CALLS ALSO
LYK
100 SHARES @ 130/- (10/- FACE VALUE + 120/- PREIUM)
IN THAT CASE WE CAN DEMAND 5/- APPLICATIONMONEY WITH 95/- PREMIUM
THEN AFTER ONE MONTH 5/- CALL MONEY WITH 25/- PREMIUM
PLZ GUIDE...............
ITS VERY URGENT
Simranjeet Singh
(Proprietor at S Simranjeet & Associates Company Secretaries)
(4396 Points)
Replied 19 May 2010
Hii khushboo it is not necessary to call premium at a single stage. as in ur query it is fine if premium moneys are called for at any stage other than application. but if nothing is mentioned in the problem regarding the treatment of premium then in that case it wil be implied that premium is to be receiveable on allotment by giving a note to this effect.
DT Fundas - Tarun rustagi
( Author)
(1150 Points)
Replied 19 May 2010
simranjeet is right premium amount is depends on company policy.there is nothing described by law in this regard but generally in the practical all companies call premium at one shot.
CAclubindia
