Corporate law
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 April 2018
I would like to clarify some doubt as follows
Wheher the share application money should be disclosed in Indebtness Column in MGT -9 if the shares have not been issued/allotted ?
Wheher the share application money should be disclosed in Indebtness Column in MGT -9 if the shares have not been issued/allotted ?
22 April 2018
No, because, MGT 9 asks for indebtedness by way of loan, whereas share
application money is not a loan if viewed as per schedule III,since the later
being shown as a separate line item in BS.
application money is not a loan if viewed as per schedule III,since the later
being shown as a separate line item in BS.
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 April 2018
Thanks for your reply
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