Form 2

This query is : Resolved

Akhil Agrawal (Querist)
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16 July 2010 One of Our Client has issued share capital in the month of March by filing Form 2 for the shares worth Rs. 1.5 cr. However till the date of allotment only 50 lakhs of the amount was received. rest 1 cr was received in the month of April. In Form 2 it has been shown as issue of shares for cash with fully paid up.

Suggest on how to incorporate in BS as on 31 march.

Sunil Kr. Sanganeria

Sunil Kr. Sanganeria (Expert)
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16 July 2010 Form nO 2 is the information given by a Company to ROC for Allotment of shares. The cOmpany can only allot the shares if he receives the application money.

In out case I uderstand that you have issued shares withour receiving the Application Money.

There may be other case also that Company called part of paid face value of shares as an applcation money and allotment of frst call money is due. If this be the case, the presentation should be as follows:

------- shares of Rs. 10 each,
Rs. ----- called up

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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16 July 2010 AGREED, IT IS CASE OF PARTY PAID UP SHARE CAPITAL.

Akhil Agrawal

Akhil Agrawal (Querist)
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16 July 2010 no even i thought that this is the case but i checked the Form 2 & in that they have mentioned that it is Fully paid up shares.

Can we just show the cheque being received in the month of March which was actuallt received in April & let it be uncleared cheque in the Bank Reco

also is there a possibility to revise the Form 2

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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17 July 2010 Agreed, if cheque date is for the month of March 2010, then you can show it bank statment as uncleared cheque.
Then no need to revise form 2.

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