Preservation of records

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Shilpa (Querist)
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05 June 2013 Is there any provision specifying time period for preserving the share application forms? If not then for what period share application forms are generally preserved?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 June 2013 The issue is not specifically covered in the
Companies (Preservation and Disposal of Records) Rules, 1966.

However, application forms for whom shares are allotted should be kept as a permanent record since it forms part of 'members register'.

Application forms of others can be destroyed within a reasonable time fixed from the encashment date of the instrument of refund .

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