thanks Ejazul for your quick answer. However, why would a company issue common share with par value when it can gets much more if it sells at market price. for example HAL share has never been less than $28 in year 2010 or 2011 but if you see below [ from balance sheet] company sells the share at par value.
Dec 31 2012 12:21 AM
Year 2011 2010
Common shares, par value $2.50 per share – authorized 2,000 shares, issued
1,073 shares and 1,069 shares 2,683 2,674
Paid-in capital in excess of par value 455 339