alleryStart learning →Reg 7(1)(d): what must happen to existing partly paid-up equity shares?
AMoved to a trust
BLocked in a year
CConverted into debt
DPaid up or forfeited
Answer & Solution
Correct answer: D. Paid up or forfeited
Existing partly paid-up equity shares must have been fully paid-up or forfeited before an IPO.
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