Notification on share application money

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kavitha (Querist)
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01 February 2012 Our company has received share application money from Indian Company and foreign company.

Share application received from Indian Company (associate companies) pending for allotment for more than one year.

Share application received from foreign Company on November 2011.

As per the recent notification by MCA on share application money which is dated 14.12.2011, should I consider the allotment within 60 days of notification. In that case, should I allot the shares on or before 13.02.2012 or return the money on or before 28.02.2012. Pls advice.

Guest

Guest (Expert)

07 February 2012 Recent notification is applicable for the share application money which is received on or after 14.12.2011.

Hence its not applicable in your case.

kavitha

kavitha (Querist)
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10 February 2012 Thanks Neha for your expert advice

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