allotted to an amount not less in the whole than the minimum subscription; (b) every Director of the company has paid to the company
Companies Act, 1956
69. Prohibition of allotment unless minimum subscription received .-
(1) No allotment shall be made of any share capital of a company offered ... money, and is in this Act referred to as "the minimum subscription". (3) The amount payable on application on each share shall not be less
executive of the Trade Union; ( ee) the payment of a minimum subscription by members of the Trade Union which shall not be less than
issue of prospectus against the promoter of the company; (xii) minimum subscription, amount payable by way of premium, issue of shares otherwise than on cash
managers or proposed managers (if any); and (d) the minimum subscription on which the directors may proceed to allotment, and the amount payable on application
memorandum or articles and named in the prospectus as the minimum subscription upon which the directors may proceed to allotment; or (b) if no amount ... cash, and is in this Act referred to as the minimum subscription. (3) The amount payable on application on each share shall, not be less
allotted to an amount not less in the whole than the minimum subscription ; and (b) every director of the company has paid to the company
extent of 96 per cent. which is more than the minimum subscription prescribed at 90 per cent. of the size of the issue under ... petitioner-company including dispute about non-compliance with the minimum subscription requirement and also seeking a declaration that because the Bombay Stock Exchange had refused
respondent
no.1/company had not been able to achieve the minimum subscription as
provided in its prospectus.
4.1 It may be relevant, therefore ... extract the minimum subscription
clause as contained in the prospectus :-
"..MINIMUM SUBSCRIPTION
IF THE COMPANY DOES NOT RECEIVE THE MINIMUM
SUBSCRIPTION AMOUNT
such body(ies) corporate also." (g) Other Information- (i) the Minimum subscription for the issue; (ii) the fees and expenses payable to the intermediaries involved