The authorised capital of the State warehousing Corporation shall be *8 Crores of rupees made up fo *8,00,000 shares of Rs. 100/- each or such as may be notified by the Central Government in the official gazette from time to time.
9. Conditions of first allotment of shares :
(i) Subject to the provisions of the Act and these Rules, shares of the Corporation shall be under the control of the Board;
(ii) the allotment of the shares shall be made by the Board in accordance with the provisions of Subsection (1) of Section 19 of the Act;
(iii) the Board may make allotment of shares either in full or in part depending on the number of shares to be issued by the Corporation;
(iv) the decision of the Board as to whether on a particular application for shares, there shall be full, partial or no allotment shall be final.
6 * Substituted vide Govt. of India Gazette Notification dated 2-8-1995, [The authorised capital of the State Warehousing Corporation shall be 8 crores of rupees made up of 8,00,000 shares of Rs. 100/- each.]