Akbar Ltd. issued 1,00,000 equity shares of 10 each. Of the issue, 75% was underwritten by Kumar.
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Akbar Ltd. issued 1,00,000 equity shares of ₹10 each. Of the issue, 75% was underwritten by Kumar. In addition, there was a firm underwriting of 9,000 shares by Kumar. In all, applications for 84,000 shares were received by the company. The marked applications totalled 44,000 shares. Determine the liability of Kumar.
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To determine the liability of Kumar in this underwriting scenario we need to break down the informat...View the full answer
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