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 ?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

Querist : Anonymous

Querist : Anonymous (Querist)

22 April 2018 Thanks for your reply

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