Securities and Exchange Board of India has laid down which of the following?
1
Minimum subscription of a company must be 60 percent of shares issued for subscription before it allots the shares .
2
Minimum subscription of a company must be 90 percent of shares issued for subscription before it allots the shares .
3
Maximum subscription of a company must be 60 percent of shares issued for subscription before it allots the shares .
4
Maximum subscription of a company must be 90 percent of shares issued for subscription before it allots the shares .