Through MCA Notification dated December 14, 2011 Ministry of Corporate Affairs has amended the Unlisted Public Companies (Preferential Allotment) Rules, 2003.
According to which now shares has to allot within 60 days from the date of receipt of share application money.
Now in case of FDI, as per FEMA & RBI provisions, shares allotment has to be done with in 180 days from the date of receipt.
Please advice what need to be done in case of FDI in present situation.
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