Hello. I have recently joined a family owned business and have no experience in management of ROC procedures.
My question is to do with the share allottment procedure. I have been given to understand that before due formalities can be executed with ROC regarding allotment, "Share Application Form" and "Share Application Fee" are to be recieved from the persons to whom shares are to be issued?
What are the implications for the company and its directors, if Form 2, 20B have all been filed but no evidence of Share Application Form nor Share Application Fee can be found????? Can the Share Application Fee be accepted as cash (amount one lac rupees)
yrs Confused
CAclubindia
