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The OFS is a mechanism which enables ...

The OFS is a mechanism which enables promoters to dilute their holdings in listed companies in a transparent manner. The term OFS stand for

A

1.Open for Sales

B

2.Open for Subscription

C

3.Offer for Subscription

D

4.Offer for Sale

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The correct Answer is:
d
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Which of the following mechanisms enables promoters of a listed company to dilute their existing sharesholdings in a transpared manner?

Ever since independence, land reforms have been a major instrument of State policy to promote both equity and agricultural investment. Unfortunately, progress on land reforms has been slow, reflecting the resilience of structures of power that gave rise to the problem in the first place. The main instrument for realizing more equitable distribution of land is the land ceiling laws. These laws were enacted by several States during the late 1950s and 1960s, and the early 1970s saw more stringent amendments in the laws to plug loopholes in the earlier laws. But the record of implementation has not been satisfactory, Around 3 million hectares of land has been declared surplus so far, which is hardly 2 percent of net sown area in India. About 30 percent of this land has not yet been distributed as it is caught up in the litigations. Besides, a number of Benami and clandestine transactions have resulted in illegal possession of significant amounts of land above ceiling limits. There are widespread reports of allotment of inferior, unproductive, barren and wasteland to landless household, many of whom have been forced to sell it off, in the absence of resources to make it productive. In many instances, lands allotted to the rural poor under the ceiling laws are not in their possession. In some cases, Pattas were issued to the beneficiaries, but possession of land shown in the Pattas was not given, or corresponding changes were not made in the records of right. The balance of power in rural India is so heavily weighed against the landless and the poor that implementing land ceiling laws is difficult. It is clear that without massive mobilization of the rural poor and depending on democratic governance in rural India, very little can be achieved in this direction. Although half of India's population continues to depend on agriculture as its primary source of livelihood, 83 percent of farmers operate holdings of less than 2 hectares in size, and the average holding size is only 1-23 hectares. This is often in fragments and unirrigated. There are also those who are entirely landless, although agriculture is their main source of livelihood. They have inadequate financial resources to purchase and often depend on leasing in small plots, on insecure terms, for short periods, sometimes only for one season. Hence, many face insecurity of tenure and the growing threat of land alienation and pressure from urbanization, industrialization and powerful interest. According to the author, what is the primary source of livelihood of majority of India's population?

X Ltd. issued 60,000 shares of Rs. 10 each a premium of 20% payable as follows : On Application Rs. 5 (including premium), On Allotment Rs. 3, and On First and Final Call Rs. 4. The company received applications for 75,000 shares and allotment was made as follows : List I Applicants for 40,000 shares were allotted in full. List II Applicants for 25,000 shares were allotted 20,000 shares. List III Applicants for 10,000 shares were allotted Nil shares. A shareholder to whom 200 shares were allotted under List I paid full amount due on shares alongwith allotment money. Another shareholder holding 600 shares failed to pay the amount due on call. His shares were forfeited and 500 of these shares were subsequently re-issued as fully paid @ Rs. 11 per share. Expenses of issue came to Rs. 20,000 which were fully written off against securities premium A/c. Pass journal entries in the books of the company.

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