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Define minimum subscription. 

Asked by Topperlearning User 17th June 2016, 5:21 PM
Answered by Expert
Answer:

According to Section 39 of the Companies Act, 2013, a company shall not allot securities unless 90% of the amount stated in the prospectus on minimum subscription has been subscribed and the sum payable on application has been paid or received by the company by cheque or other instrument. 

Answered by Expert 17th June 2016, 7:21 PM
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