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share allottment in cash

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(Querist)
12 March 2009 Can we allot the share to the initial subscriber against the cash(Not cheque) received from them for creation of the company?

Can we allot the shares to the applicant against cash after incorporation for further increase of paidup capital?

Is law forbid for allotment of share against cash?
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DR GAURAV GUPTA FCA, FCS, LL.B

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DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
17 March 2009 there is no restriction you can take the allotment money in cash

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