If a Company is having Share Application Money pending for Allotment since last 2 years and the Company had filed Return in Fomr DPT-4 in compliance with the provisison of the Companies Act, 2013. Now as per the amendment in Deposit Provision, the Company needs to either refund the Application Money or Allot the Shares against the same. If the Company wants to Allot the Securities against the said Application Money, which provision need to be complied with as the company is already in receipt of Share Application Money.
Kindly advice.
CAclubindia
