Allotment of shares without receiving consideration
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 February 2013
A Ltd Company allotted shares to the Bank, and the Bank issued a two cheques for the payment of the consideration amount for such shares issued by the Company.
The Company however, en-cashed one cheque and allotted shares to the Bank, but did not en-cash the other cheque.
Please guide is such allotment of shares made by the Company VALID..??
The Company however, en-cashed one cheque and allotted shares to the Bank, but did not en-cash the other cheque.
Please guide is such allotment of shares made by the Company VALID..??
Nikhil Kaushik
(Expert)
11 February 2013
Allotment is valid. the money not received can be transferred to allotment/ calls - in - arrears.
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