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Preferential allotment of warrants

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Querist : Anonymous

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Querist : Anonymous (Querist)
23 December 2010 Dear Experts,
Please let me know, whether it is statutorily required to open a seperate bank account for depositing the proceeds of the pref issue of warrants ( ie 25% payable intially) or can the company keep the proceeds in a current account only???
Pls reply. Its urgent.
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Rasesh

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Rasesh (Expert)
23 December 2010 The Company is not required to maintain a seperate bank account for the purpose.
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