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Allottment

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Kanika Garg

Kanika Garg (Querist)
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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.

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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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.

CA Suresh Choudhary

CA Suresh Choudhary (Expert)
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03 October 2009 agree

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