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Conseqeuncies of refund of share application money

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Chaitra T N

Chaitra T N (Querist)
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26 August 2014 If the company received share application money in the year 2010....in the year 2014 the same has been refunded an account of non allotment of share......but as per company act 2013 it says within 60 days has to be refund...please clarify can a company refund the same after 4 years...kindly brief up the consequences...??

CS Divesh Goyal

CS Divesh Goyal (Expert)
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27 August 2014 There is no provisions in old act regarding this. So 31st march 2014 Tak there was no issue. But if apne 31st march tak repay ni ki to 30th august tak dpt-4 File kro and 31st march 2015 Tak repy krdo

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