This Query has 7 replies
Dear All,
We have one Pvt Ltd comp with paid up capital of 30crores. We have receieved Rs 1 crore as Share Application money.
In our B/S as on 31.03.09 we have shown the Share Application money lying in the company in liablity side.
Now I would like to enquire in the Act there is any restriction for share application money. The money has to be refunded apart from that is there is any restrictions as per law with regard to this.
Kindly clarify my query ?
Regards
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Experts' may express their views.
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DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
Share Application Menies