Allotment of shares

This query is : Resolved

vishwas gajanan chandhaikar (Querist)
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17 March 2012 Dear All,

We have a Private Limited company who receive Share Application Money before 1 year and effect of the same has been taken to Last Year Balance Sheet.

Company has not alloted shares in respect of thease application money and they remained in account for the year.

Now my question is if we want to allot thease shares in current year and current date What will be the Procedure and consequences for late allotment?
Can we file Form 2 for current date?

Thanks
Vishwas

Ajay Mishra

Ajay Mishra (Expert)
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18 March 2012 Hi

In this year if you want to use share application money you can do so by allotting the same in this year. For this purpose you can follow this:

1. Call a Board Meeting
2. Allot shares by using share application money
3. File Form-2 with ROC with in 30 days from the date of allotment.
4. Issue Share Certificate with in 3 month from the date of issue.
5. Make entry in the register of members of the company.

Regards

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