ABC Ltd. issued 30,000, 9% Preference shares of 10 each. Of the issue, 80% was underwritten by
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ABC Ltd. issued 30,000, 9% Preference shares of ₹10 each. Of the issue, 80% was underwritten by Palani. In addition, there is a firm underwriting of 5,000 shares by Palani. Applications for 27,000 shares were received by the company in all. The marked applications totalled 13,000 shares. Determine the liability of Palani.
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To determine the liability of Palani in this underwriting scenario we need to break down the informa...View the full answer
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