question_answer

Vinod Ltd. issued 2,000 shares of Rs.10 each, payable Rs.7 on application & allotment; 2 on first call and balance on second call (final call). 100 shares were forfeited on which second call was not received. What is the maximum permissible discount can be offered on reissue of these shares?

A) 1 per share 

B) 2 per share

C) 3 per share

D) 9 per share