M/s Reddy Ltd. has authorized capital of Rs.50,00,000 divided into 1,00,000 equity shares of $4 50 each. The company issued for subscription 25,000 shares at a premium of Rs.5 each. The entire issue was underwritten as follows:
Amar: 15,000 shares (Firm underwriting 2,500 shares)
Akbar: 7,500 shares (Firm underwriting 1,000 shares)
Antony: 2,500 shares (Firm underwriting 500 shares)
Out of total issue, 22,500 shares including firm underwriting were subscribed.
The following were the marked forms:
Amar: 8,000 shares
Akbar: 5,000 shares
Antony: 2,000 shares
Determine the liability of each underwriter.