Conversion of share application money into share capital
This query is : Resolved
24 May 2018
Respected Sir/Madam,
Within how many days, share application money shall be converted to share capital?
If it has not been converted, what are the consequences?
Within how many days, share application money shall be converted to share capital?
If it has not been converted, what are the consequences?
24 May 2018
1. 60 days.
2. to refund with interest @12% after the expiry of 60 days.
3. If not refunded with in 15 days after the said 60 days, the amount will be treated
as public deposit and penalty for non compliance of deposit rules will follow.
2. to refund with interest @12% after the expiry of 60 days.
3. If not refunded with in 15 days after the said 60 days, the amount will be treated
as public deposit and penalty for non compliance of deposit rules will follow.
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