Issue of shares before receiving share application money
This query is : Resolved
Mandar rajendra chavan
(Querist)
22 July 2014
Hello, i want to know whether a public limited company (not listed) can issue a shares before share application money is received? and if yes then under what circumstances it is possible and which act or law complies with it? whether it is legal or illegal to do so?
In the above case the company had issued an 4% non cumulative non convertible redemeebale preference shares? Please let me
In the above case the company had issued an 4% non cumulative non convertible redemeebale preference shares? Please let me
CS Mitesh Mehta
(Expert)
16 September 2014
No. Company can't issue shares without receiving share application money
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