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Question
Select the most appropriate answer from the alternatives given below and rewrite the sentence :
As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be______________ percent.
Options
10
5
20
15
Solution
As per section 69 (3) of the Companies Act, 1956, the minimum amount payable on share application should be 5 per cent.
Explanation: Minimum amount payable on share application should be 5% of the nominal value of the share.
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