The correct answer is D. Securities and Exchange Board of India (SEBI).
Premium on issue of shares is the amount paid by a shareholder in excess of the face value of the share. It is determined by the Securities and Exchange Board of India (SEBI), which is the regulator of the Indian securities market. SEBI has laid down certain guidelines for the issue of shares, and one of these guidelines is that the premium on issue of shares should not exceed 25% of the face value of the share.
The other options are incorrect. The Company Law Board is a statutory body that is responsible for regulating the incorporation and winding up of companies. The Government is the supreme authority in the country and has the power to make laws. The issuing company is the company that is issuing the shares.
Here is a brief explanation of each option:
- Option A: The Company Law Board is a statutory body that is responsible for regulating the incorporation and winding up of companies. It does not have the power to determine the premium on issue of shares.
- Option B: The Government is the supreme authority in the country and has the power to make laws. However, it has not delegated the power to determine the premium on issue of shares to any other body.
- Option C: The issuing company is the company that is issuing the shares. It does not have the power to determine the premium on issue of shares.
- Option D: The Securities and Exchange Board of India (SEBI) is the regulator of the Indian securities market. It has laid down certain guidelines for the issue of shares, and one of these guidelines is that the premium on issue of shares should not exceed 25% of the face value of the share.