Amit Popli Law Classes

Amit Popli Law Classes is an institute with a difference having a net idealization of education. This institute acts and asserts the fact that all that glitters is not gold as the modern proverb goes which has a link with Zeitgeist and geological aspects of talent movement in the present society. This academy assures qualitative education which venerates and reveres the ability of ones talent on the scholastic basis and trend of grace operationalism in academics.

CA - IPCC - Aaj Ka Sawal

Check for Questions from 19th Sept

CA Final - Bus Ek Kadam Aur

Question 1: An unlisted public company, having a paid up equity share capital of Rs. 5.00 crores consisting of 50,00,000 equity shares of Rs. 10/- each fully paid up, proposes to reduce the denomination of equity shares to less than Rs. 10 per share and make the initial public offer of equity shares at a premium. Examine whether it is possible for the company to issue shares at a denomination of less than Rs. 10 and if so, state the minimum issue price and other conditions to be fulfilled under the SEBI (Disclosure and Investor Protection) Guidelines, 2000. ( 6 Marks) 

Question 2:AVD Limited was incorporated on 1st April, 2006. The company got its shares listed at the Bombay Stock Exchange on 30th September, 2007. The company at an extraordinary general meeting held on 31st October, 2009 decide to go for public issue to an extent of Rs. 300 crores. The net worth of company as per the audited balance sheet in the financial year 2007-08 and 2008-09 was Rs. 50 crores and Rs. 60 crores respectively. During the financial year 2008-09 the company had already issued equity shares amounting to Rs. 20 crores. There is no change in the name of the company or its business activities during the financial year 2008-09. Referring to the guidelines issued by the Securities and Exchange Board of India, advise the company on the following –

(i)        Whether the company can go ahead with the public issue of the equity shares as stated above.

(ii)       What would be your advice in case the networth of the company as per audited balance sheet in the financial years 2007-08 and 2008-09 was Rs. 20 crores and Rs. 30 crores respectively?

(iii)      What would be the position in case the company in question changed its name to AJD Limited during the year 2008-09, three months before filing the offer document and the revenue due to change of business activity suggested by the new name during the financial year 2008-09 was 40% less than the total revenue for the financial year 2007-08 reckoned from the date of the filing of the offer document. (8 Marks) [Nov. 09 OS]

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