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Share application

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 January 2012 Is there any such limitation in Company Law that we cannot accept share applications beyond the authorised share capital of the company....
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CS Suraj Arora

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CS Suraj Arora (Expert)
05 January 2012 Dear

Companies Act does not provide this type of Restriction.
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Querist : Anonymous

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Querist : Anonymous (Querist)
05 January 2012 Thank u sir for your prompt reply.... Bt plz confirm one more thing that is there any supreme court ruling in this regards i.e. accepting share application in accordance with the authorised capital only.....
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sunil sharma

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sunil sharma (Expert)
06 January 2012 Receipt of share application money over and above of Authorised capital is not a default at all. Reason being share application money is not in the nature of paid up capital unless and until allotment of share against the share application money
...Lastly "Contract Act" need to be checked with your intention for such application money
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