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03 October 2009 If shares are not allotted for than 3 yrs. then what treatment should be given to the application money which stands in my balance sheet?

Secondly,Is there any statutory guideline for this?

Plz resolve this and oblige.

03 October 2009 This amount is shown under current liability.

after 7 years transfer it to Investor education and protection fund with interest accrue on it.

03 October 2009 agree

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