CARO,2003
This query is : Resolved
Aswin pugalia
(Querist)
02 February 2011
why is share application money not taken into consideration for calculating aggregate paid up share capital and reserves of pvt. ltd. for the exceptions of CARO??
03 February 2011
Share application money can not be treated as paid up capital without allotment of share. The reason is application money pending allotment cannot be utilized for business purpose.
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