Sathya Ltd., issued 12%, 10,000 preference shares of Rs.10 each. The issue was underwritten as follows: Arul30%;
Question:
Sathya Ltd., issued 12%, 10,000 preference shares of Rs.10 each. The issue was underwritten as follows: Arul—30%; Madan—30%; Ganga—20%. Applications for 8,000 shares were received by the company in all. Determine the liability of the respective underwriters.
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To calculate the liability of each underwriter we need to consider the shares that ...View the full answer
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