A company invited application for Rs.25,000 equity shares of Rs.10 each & received 30,000 applications along with the application money of Rs.4.per share .Which of the following alternative can be followed ? I. Refund the excess application , II. Make pro rata allotment to all the applicant ,and refund the excess application money.III.Not to allot any shares to some applicants ,full allotment to some of the applicant & pro rata allotment to the rest of the applicant , IV . Not to allot any shares to some applicants , & make pro rata allotment to other applicant.V.Make pro rata allotment to all the applicant & adjust the excess application money received towards call money
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