Issue of shares
This query is : Resolved
smitha varma
(Querist)
07 June 2013
Dear all
One of a public Company has allotted 40,000 equity shares of Rs. 10/- each at par without receiving even application money from the party. The company disclosed the same as calls in arrear (Rs. 4,00,000/- total share value) in the financial statements.
This is a violation under which section. Pls clarify
Regards
One of a public Company has allotted 40,000 equity shares of Rs. 10/- each at par without receiving even application money from the party. The company disclosed the same as calls in arrear (Rs. 4,00,000/- total share value) in the financial statements.
This is a violation under which section. Pls clarify
Regards
Ajay Mishra
(Expert)
14 June 2013
Hi
You can not allot shares unless you receive minimum subscription amount. The whole amount will not be considered as calls in arrear.
Please check, what your company's articles says on it.
You can not allot shares unless you receive minimum subscription amount. The whole amount will not be considered as calls in arrear.
Please check, what your company's articles says on it.
smitha varma
(Querist)
22 September 2014
ok Sir. If you have done issue of shares under private placement . Can you please forward the whole documentation,. This only for vetting.
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