How much time takeing for allotment of shares
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 October 2013
Dear Professionals please tell me the query of time limit for allotment of shares
1. Share money fully received from share subscribers
2. there is any restriction for allotment of shares
Dear Professionals please tell me the query of time limit for allotment of shares
1. Share money fully received from share subscribers
2. there is any restriction for allotment of shares
Nikhil Kaushik
(Expert)
24 October 2013
there is no restriction. But you need to explain reasons for delay in allotting shares.
Further, the share applicant is foreign person, then shares need to be allotted within 6 months. else, you need to refund the whole of the amount.
Further, the share applicant is foreign person, then shares need to be allotted within 6 months. else, you need to refund the whole of the amount.
24 October 2013
If the subscriber is non-resident time limit as per FEMA has to be followed.
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