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Company law

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(Querist)
18 July 2012 pls tell me the stipulated time under which a private company must allot its shares to the members who have invested their money in the shares?
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CS Divya Sorayan

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CS Divya Sorayan (Expert)
19 July 2012 There is no time limit for allotment of shares in a private company, certainly it should be done before the end of the financial year so that it would not stand in your Balance Sheet.
the money can be utilised for any business purpose. But as per good secretarial practice shares should be issued in reasonable time period (3 to 6 mnths)
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