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Allottment

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(Querist)
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.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
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.
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CA Suresh Choudhary

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CA Suresh Choudhary (Expert)
03 October 2009 agree




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