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Share application pending allotment

Others 605 views 1 replies

rushi

article

125 Points Posted on 23 May 2012

A listed company has applied for shres of another listed comapny in April 2011.no shares have been alloted till 31/3/2012.

Furthus no no shares have been alloted till 30th may 2012,which is the day the books of accounts are finalised.

How should I treat the same in the books of accounts?

Also if i Have parked my funds as application made to unlisted company and private company,of which no shares have been alloted till the year end(31/3/2012) and furthur remain unalloted till 30th may?how should the same be treated?

IS THERE ANY TIME LIMIT APPLICABLE FOR AFOREMENTIOND CASES.???

Replies (1)

sangram ghatge

company secretary in practice

198 Points Posted on 26 May 2012

books of accounts: show it as share application money account under the head current assets.

about time limit for allotment: in case of pvt ltd co, there is no time limit.

in case of other companies, as per new notification dt. 14-12-2011, allotment needs to be made within 60 days or else application money should be repaid within 15 days thereafter.

regds,

sangram 9422622828.