Section 17 in The Central Warehousing Corporation Rules, 1963
17. Conditions of first allotment of shares.
(1)The first allotment of shares shall be made by the Board in accordance with the provisions of section 4 to applicants who are qualified to be registered as shareholders of the Corporation.(2)The Board may make allotment to the applicants for shares either in full or in part, depending on the number of applicants from the class of shareholders concerned. The Board, shall, as far as practicable make full allotment it respect of application for smaller number of shares so that there may be as many shareholders of that class as possible.(3)The decision of the Board as to whether in a particular application for shares there shall be full partial or no allotment shall be final.
