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Pending allotment money

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(Querist)
14 April 2014 if I am having pending allot miney as on date 31 march.wiil new act wil b appkicable on that money..means whether I have to allot shares for it in 60 days..if suppose 60 days have elapsed as required under neq ca 2013 and I have nt alloted shares dan what wil happen..if I allot it nw as if there is no form available to aubmit to roc..plz helo sir what is the way to solve it as I dnt want such money to be mwntioned in my balance sheet of this year
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CA Umesh kumar Mantri

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CA Umesh kumar Mantri (Expert)
14 April 2014 U have two option
1) U have to allot share within 60 days or

2) U have to refund application money

Otherwise such application money is treated as Public deposit and RBI rules and regulation apply accordingly
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