A Company is not allowed to issue shares at a discount to the public in general. [July 2021, 2 Marks]
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Company AccountsQ-7 | Introduction to Company AccountsQuestion 5220 of 112
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Detailed Solution & Explanation
True: According to Section 53 of the Companies Act, 2013, a company cannot issue shares
at a discount to general public.
About This Chapter: Partnership & Companies
Paper
Paper 1: Accounting
Weightage
15-20%
Key Topics
Admission, Retirement, Death, Shares, Debentures
This chapter covers Admission, Retirement, Death, Shares, Debentures and is part of Paper 1: Accounting in the CA Foundation exam.
View Official ICAI SyllabusExam Strategy Tip
This topic carries 15-20% weightage. Focus on understanding core concepts rather than memorizing.
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Re-issue of forfeited shares is allotment of shares but not a sale. [May 2018, 2 Marks]
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