Receiving of application money
This query is : Resolved
12 August 2009
Hi
can any one provide the solutions to the cc papers of cs executive programme and my attempt is dec 2009 .if any one has the solutions please mail me at sriram_8.30@rediffmail.com
Regards
Ram
can any one provide the solutions to the cc papers of cs executive programme and my attempt is dec 2009 .if any one has the solutions please mail me at sriram_8.30@rediffmail.com
Regards
Ram
12 August 2009
Whether a public limited company can receive share application money from directors without statement in lieu of prospectus
12 August 2009
Hi Rupesh,
YES.
A public limited company can receive share application money from directors without statement in lieu of prospectus.
When the Company has accepted the Share Application Money you should do one simple thing. You may record the above transaction i.e. receipt of share application money and assurance given to proposed allottee in the board meeting minutes.
In other words simple noting of such receipt in the board minutes would be enough.
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.
Best Regards
YES.
A public limited company can receive share application money from directors without statement in lieu of prospectus.
When the Company has accepted the Share Application Money you should do one simple thing. You may record the above transaction i.e. receipt of share application money and assurance given to proposed allottee in the board meeting minutes.
In other words simple noting of such receipt in the board minutes would be enough.
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.
Best Regards
12 August 2009
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
https://www.caclubindia.com/share_files/files_display.asp?files_id=11908
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Gift Received from nonblood relative
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Reprocessing of rectification order AY 2025-26
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
