What is the position of an applicant for shares bofore allotment and after allotment of shares?
Before allotment of shares position is Applicant. He doesnt owner of the company. He do not have any rights on company profits and he is not liable for company liabilities.
After allotment of shares he become Share Holder. He has right to get company profits. He is the owner of company. He is liable of company liabilites to the extent of his shares.
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