XYZ Ltd. incorporated on 1st April, 2023 issued a prospectus inviting applications for 5,00,000 equity shares of ₹ 10 each. The whole issue was fully underwritten by K, B, D, and M as follows: K - 2,00,000 Shares, B - 1,

Statement showing Underwriters' Liability Particulars K B D M Gross Liability: 2,00,000 1,50,000 1,00,000 50,000 Less : Unmarked application allocated in the ratio of 4:3:2:1 (4,50,000 - 4,30,000 = 20,000) (8,000) (6,000) (4,000) (2,000) 1,92,000 1,44,000 96,000 48,000 Less : Marked application (2,20,000) (90,000) (1,10,000) (10,000) (28,000) 54,000 (14,000) 38,000 Less : On surplus of K & D allocated to B & M in the ratio of 3:1 (K's surplus 28,000 + D's surplus 14,000 = 42,000) +28,000 (31,500) +14,000 (10,500) Net Liability NIL 22,500 NIL 27,500