Issue of share without receiving application money
This query is : Resolved
CS Sandip Nagariya
(Querist)
03 February 2016
All Respected Members,
What step should be taken if company has issued share without receiving application money or What is the Implication ?
Please share your valuable opinion.
Thanks in anticipation.
What step should be taken if company has issued share without receiving application money or What is the Implication ?
Please share your valuable opinion.
Thanks in anticipation.
CS Divesh Goyal
(Expert)
04 February 2016
Mr. Sandip,
As per Act company can't issue share without receiving of money.
If you have issued this is default of Section 62 and issue of shares are invalid.
Company is defaulter of Section 62.
As per Act company can't issue share without receiving of money.
If you have issued this is default of Section 62 and issue of shares are invalid.
Company is defaulter of Section 62.
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CS Sandip Nagariya
(Querist)
05 February 2016
Thank you for your valuable opinion. How can Company can rectify this ? is there any procedure regarding this matter ?
CS Divesh Goyal
(Expert)
08 February 2016
drop me mail on csdiveshgoyal@gmail.com then will tell you the ways.
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