S Ltd. and T Ltd. have the following balance sheets on 31 March 2011:
|
(Rs.in Lakin) |
|||||
|
Liabilities |
S Ltd. |
T Ltd. |
Assets |
S Ltd. |
T Ltd. |
|
Share Capital |
216 |
108 |
Fixed Assets |
90 |
27 |
|
Reserve & Surplus |
54 |
27 |
3,60,000 Shares of T Ltd. |
72 |
— |
|
4,32,000 Shares of S Ltd |
— |
90 |
|||
|
Current Assets |
108 |
15 |
|||
|
270 |
135 |
270 |
I 35 |
If S Ltd. is to acquire the business of T Ltd. and if the fixed and current assets are expected to realize twice the values at which they stand in the balance sheet. Workout the purchase consideration and the number of shares of S Ltd. to be issued to meet the consideration if the face value of shares of both companies is Rs.10 each.