High Light India Ltd. invited applications for 30,000 Shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows:On Application Rs. 40 - Accountancy MCQ CUET Accountancy 2025 14 May Shift 1 2026 | ExamTest.live

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High Light India Ltd. invited applications for 30,000 Shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows:On Application Rs. 40 (including Rs.10 premium)On Allotment Rs. 30 (including Rs.10 premium)On First Call Rs. 30On Second and Final Call Rs. 20 Applications were received for 40,000 shares and pro-rata allotment was made on the application for 35,000 share. Excess application money was utilised towards allotment.Rohan to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment.Aman who applied for 1,050 shares failed to pay first call and his share were forfeited immediately after first Call.Second and final call was made. All the money due on second call have been received.Of the shares forfeited, 1,00,0 share were reissued as fully paid-up for Rs. 80 per share, which included the whole of Aman's shares. Rohan to whom 600 shares were allotted must have applied for:

Solution & Step-by-step Explanation

To find the number of shares an individual applied for under a pro-rata category group, we use the following formula: Shares Applied = Shares Allotted \times (\frac{Total Shares Applied in Category}{Total Shares Allotted in Category}) Given details for Rohan's category:Total category applications accepted for allotment = 35, 000 sharesTotal category shares available to allot = 30, 000 sharesRohan's allotted allocation = 600 shares Rohan’s Applied Shares = 600 \times \frac{35 , 000}{30 , 000} = 600 \times \frac{7}{6} = 700 shares

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High Light India Ltd. invited applications for 30,000 Shares of Rs. 100 each at a premium of Rs. 20 per share payable as follows:On Application Rs. 40 (including Rs.10 premium)On Allotment Rs. 30 (including Rs.10 premium)On First Call Rs. 30On Second and Final Call Rs. 20 Applications were received for 40,000 shares and pro-rata allotment was made on the application for 35,000 share. Excess application money was utilised towards allotment.Rohan to whom 600 shares were allotted failed to pay the allotment money and his shares were forfeited immediately after allotment.Aman who applied for 1,050 shares failed to pay first call and his share were forfeited immediately after first Call.Second and final call was made. All the money due on second call have been received.Of the shares forfeited, 1,00,0 share were reissued as fully paid-up for Rs. 80 per share, which included the whole of Aman's shares. Rohan to whom 600 shares were allotted must have applied for:

650 Shares

750 Shares

700 Shares

800 Shares

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