05 January 2015
COMPANY'S FINANCIAL POSITION IS WEAK AND UNABLE TO ISSUE THE SHARES AND REFUND THE PENDING APPLICATION MONEY TO THE PERSONS WHO APPLIED FOR THE ALLOTMENT OF SHARES.
THE APPLICATION MONEY RECEIVE FOR 2 YEAR AGO AND NOT ALLOT THE SAME.
THE APPLICATION MONEY EXCEED THE AMOUNT OF AUTHORIZED SHARE CAPITAL OF THE COMPANY.
1. MY QUESTION IS WHAT PLACE IN FINANCIAL STATEMENT I SHOW AND UNDER WHICH HEADING.
2. HAVE ANY CONTRAVENTION OF THE SECTION OF THE COMPANIES ACT 2013 AND RULE MADE THERE UNDER.
06 January 2015
Under current liabilities and share application money held for more than 60 Day and not refunded within 15 days become deposit on which you are liable to pay interest.
06 January 2015
Under current liabilities and share application money held for more than 60 Day and not refunded within 15 days become deposit on which you are liable to pay interest.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
07 January 2015
yes. if not paid within time then it treat as a deposit under the companies act, 2013 and made rule thereunder.
CAclubindia
