A Ltd. issued 1,00,000 equity shares of 100 each at par to the public by issuing...

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A Ltd. issued 1,00,000 equity shares of 100 each at par to the public by issuing a prospectus. The prospectus discloses the minimum subscription amount of 15,00,000 required to be received on the application of shares and share application money shall be payable at 20 per share. The prospectus further reveals that A Ltd. has applied for the listing of shares in 3 recognized stock exchanges of which 1 application has been rejected. The issue was fully subscribed and A Ltd. received an amount of 20,00,000 on the share application. A Ltd. then proceeded to allotment of shares. Examine the three disclosures in the above case study which are the deciding factors in an allotment of shares and the consequences for violation, if any under the provisions of the Companies Act, 2013. A Ltd. issued 1,00,000 equity shares of 100 each at par to the public by issuing a prospectus. The prospectus discloses the minimum subscription amount of 15,00,000 required to be received on the application of shares and share application money shall be payable at 20 per share. The prospectus further reveals that A Ltd. has applied for the listing of shares in 3 recognized stock exchanges of which 1 application has been rejected. The issue was fully subscribed and A Ltd. received an amount of 20,00,000 on the share application. A Ltd. then proceeded to allotment of shares. Examine the three disclosures in the above case study which are the deciding factors in an allotment of shares and the consequences for violation, if any under the provisions of the Companies Act, 2013.