07 June 2016
Company is having share application money pending for allotment from one of the shareholder and the company is having sufficient authorised share capital. Now company want to issue share to that shareholder against the money received from him what is the procedure that company can follow to do the same.
07 June 2016
This Share Application money is standing in the company's books of account from 2013 then also it can be done by passing BR. If yes can you please help me out with the draft BR.
07 June 2016
As per amendment in Deposit rules, the share application money received before 31.03.2014, it was required to refund before 01.06.2015. You can not allot shares now.
There was a case pending to CLB unber section 398 that is why co. did not able to issue the share against that money. Now company want to issue share against that money.
If u could just help me out with draft resolution i will be highly oblidged.
CAclubindia
