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