Allotment of securities
This query is : Resolved
03 March 2015
Dear all
what is the time limit for allotment of securities after receiving Share application money from the members for a public company?
what is the time limit for allotment of securities after receiving Share application money from the members for a public company?
03 March 2015
with in 60 days of allotment shares is to be allotted
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04 March 2015
thanks sir
For Both the Public and Private company that applies or that is restricted only to public company
further can you quote the section reference if any found
For Both the Public and Private company that applies or that is restricted only to public company
further can you quote the section reference if any found
05 March 2015
ection 42(6) further provides that-“(6) A company making an offer or invitation under this section shall allot its securities within sixty days from the date of receipt of the application money for such securities and if the company is not able to allot the securities within that period, it shall repay the application money to the subscribers within fifteen days from the date of completion of sixty days and if the company fails to repay the application money within the aforesaid period, it shall be liable to repay that money with interest at the rate of twelve per cent. per annum from the expiry of the sixtieth day:
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05 March 2015
Dear Jai
But section 42 is for private placement only
if we allot shares by rights issue means will that time limit apply
But section 42 is for private placement only
if we allot shares by rights issue means will that time limit apply
05 March 2015
Dear Jai
But section 42 is for private placement only
if we allot shares by rights issue means will that time limit apply
But section 42 is for private placement only
if we allot shares by rights issue means will that time limit apply
05 March 2015
yes any issue of shares, as per sec 73 of ca 2013 i.e. rule of deposit if share is not alloted with in 60 days than share application money is to be treated as deposit.
06 March 2015
thanks a lot Mr. Jay
thanks a lot Mr. Jay
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