The following are the summarised Balance Sheets of X Ltd. and Y Ltd. as at 31-03-2016: Particulars X Ltd. (₹) Y Ltd. (₹) EQUITY & LIABILITIES Share Capital: Equity Shares ₹10 each (fully paid up) 10,00,000 6,00,000 S

The following are the summarised Balance Sheets of X Ltd. and Y Ltd. as at 31-03-2016: Particulars X Ltd. (₹) Y Ltd. (₹) EQUITY & LIABILITIES Share Capital: Equity Shares ₹10 each (fully paid up) 10,00,000 6,00,000 Securities Premium 3,00,000 General Reserve 1,80,000 2,50,000 Profit and Loss Account 2,00,000 1,60,000 8% Debentures 5,00,000 Unsecured Loans 3,00,000 Sundry Creditors 2,60,000 1,70,000 TOTAL 24,40,000 14,80,000 ASSETS Building 9,00,000 4,50,000 Plant and Machinery 5,00,000 3,80,000 Investment (5,000 shares of Y Ltd.) 80,000 Stock 5,20,000 3,50,000 Sundry Debtors 4,10,000 2,60,000 Cash at bank 30,000 40,000 TOTAL 24,40,000 14,80,000 The companies agree on a scheme of amalgamation on the following terms: A new company is to be formed by the name XY Ltd. with the face value of ₹10 each. XY Ltd. to take over all assets and liabilities of the existing companies. For the purpose of amalgamation, the shares of the existing companies are to be valued as under: X Ltd. ₹18 per share Y Ltd. ₹20 per share. A Contingent Liability of X Ltd. of ₹60,000 is to be treated as actual liability. The shareholders of X Ltd. and Y Ltd. are to be paid by issuing sufficient number of shares of XY Ltd. at a Premium of ₹5 per share. You are required to calculate the Purchase consideration (Number of shares to be issued to X Ltd. and Y Ltd.)