issue of shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2010 Hi
After receiving share application money , with in how many days issue of shares should be made .
And if not made what is the procedures should follow , and is there is any penalty ?

Ankur Garg

Ankur Garg (Expert)
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16 September 2010 Regarding time limit to convert such share application money into capital the law is silent. However as per practice allot share with 6 months of the receipt of application money.

Further collect the share application form from the proposed allottee for your record. You may download the sample share application from the link mentioned below:

https://www.caclubindia.com/share_files/files_display.asp?files_id=11908

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

16 September 2010 thanks

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