Can a Company issue a share having face value of Rs. 10 at Rs. 97 Post category:Accountancy Reading time:1 mins read SOLUTION No. Under Section 53 of the Companies Act, 2013, a Company cannot issue shares at discount. Please Share This Share this content Opens in a new window X Opens in a new window Facebook Opens in a new window Pinterest Opens in a new window LinkedIn Opens in a new window Viber Opens in a new window VK Opens in a new window Reddit Opens in a new window Tumblr Opens in a new window Viadeo Opens in a new window WhatsApp Read more articles Previous PostGive one point of distinction between Reserve Capital and Capital Reserve. Next PostCan ‘securities premium reserve’ be distributed as dividend? You Might Also Like Bose, Sarkar and Chatterjee are partners in a firm and do not have a partnership deed. Bose introduced further capital of Rs. 5,00,000 on 1st October, 2021. Whereas Chatterjee took a loan of Rs. 50,000 from the firm on 1st October, 2021. Disputes have arisen among them on the following issues: (a) Bose demands interest @ 10% p.a. on Rs. 5,00,000 being his extra capital. (b) Sarkar desires that his son Deep should be admitted as partner and he will give his half of his share. Bose and Chatterjee do not agree. (c) Bose and Sarkar are of the view that Chatterjee should be charged interest on loan from the firm at the lending rate of the banks, which is 12% p.a. (d) Sarkar has withdrawn Rs. 50,000 from the firm for his personal use. Bose and Chatterjee are of the view that Sarkar should be charged interest @ 10% p.a. You are required to give solution to each issue of dispute. September 16, 2022 Following was the Balance Sheet of M.M. Ltd. as at 31st March, 2015: August 18, 2022 What is meant by ‘Irredeemable Debentures’? September 29, 2022 Leave a Reply Cancel replyYou must be logged in to post a comment.
Bose, Sarkar and Chatterjee are partners in a firm and do not have a partnership deed. Bose introduced further capital of Rs. 5,00,000 on 1st October, 2021. Whereas Chatterjee took a loan of Rs. 50,000 from the firm on 1st October, 2021. Disputes have arisen among them on the following issues: (a) Bose demands interest @ 10% p.a. on Rs. 5,00,000 being his extra capital. (b) Sarkar desires that his son Deep should be admitted as partner and he will give his half of his share. Bose and Chatterjee do not agree. (c) Bose and Sarkar are of the view that Chatterjee should be charged interest on loan from the firm at the lending rate of the banks, which is 12% p.a. (d) Sarkar has withdrawn Rs. 50,000 from the firm for his personal use. Bose and Chatterjee are of the view that Sarkar should be charged interest @ 10% p.a. You are required to give solution to each issue of dispute. September 16, 2022