Easy Office
LCI Learning

Share application money

This query is : Resolved 

26 September 2016 If a private company receives Share Application money and has neither allotted shares nor refunded back the Application Money for a period of 3 years.
1)Does it have to bear any penalties under CA Act 1956 or CA Act 2013?
2) Can it proceed with allotment of shares now by any method i.e. Private placement or Preferential Allotment or would it have return the money back with Interest?

26 September 2016 what do you mean by CA act? Can you please tell........

26 September 2016 I was referring to the Companies Act 1956 and Companies Act 2013




26 September 2016 CA Act = Companies Act.... I really thank you for the great addition you made in my knowledge. Thank you.

Companies Act 1956 was bit liberal in this regard....but for Companies Act 2013, please follow the link below
https://www.caclubindia.com/forum/share-application-money-pending-for-allotment-before-01-04-2015-353210.asp

27 September 2016 Thanks for sending the link Amol....I had a query on the answer provided in the link. It stated please fill PAS- 3 with ROC within 30 days but if we return back the Share Application Money, is it necessary to fill PAS-3

27 September 2016 PAS 3 is for allotment of shares.
If you return the application money, then PAS 3 is not necessary

27 September 2016 Thank you so much...This was really helpful

27 September 2016 you are most welcome.






You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries