Minimum Subscription Questions

Minimum subscription is the minimum amount that, in the opinion of directors, must be raised to meet the needs of business operations of the company relating to: (A) The price of any property purchased, or to be purchased, which has to be met wholly or partly out of the proceeds of issue;(B) Preliminary expenses payable by the company and any commission payable in connection with the issue of shares;(C) Working capital;(D) Any other expenditure required for the usual conduct of business operations Choose the correct answer from the options given below:

Which of the following is incorrect about the minimum subscription?Minimum subscription is the minimum amount that, in the opinion of directors, must be raised to meet the needs of business operations of the company relating to:

If a delay occurs beyond 8 days from the date of closure of the subscription list in refunding the amount received due to non-fulfilment of the criteria of minimum subscription, the company shall be liable to pay the amount with interest at the rate of: