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Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2010 What is the maximum period for a company to call for share allotment money ?

Is there any minimum or maximum period allowed in the law fall calling money which is unpaid from allotment is done?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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31 July 2010 DEAR ANONYMOUS,
THERE IS NO SPECIFIC TIME PERIOD FIXED UNDER THE ACT FOR MAKING THE ALLOTMENT AFTER RECEIPT OF APPLICATION MONEY, FOR UNLISTED PUBLIC COMPANIES. WHAT IS SPECIFIED IS ONLY IS THAT "ALLOTMENT SHALL BE MADE WITH IN REASONABLE PERIOD" AND THE REASON ABILITY OF THE PERIOD IS TO BE DECIDED ON CASE TO CASE BASIS DEPENDING ON THE INTENTION BEHIND RECEIPT OF SUCH MONIES

OTHER VIEWS ARE INVITED,

Regards

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