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Share application money?

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(Querist)
28 February 2013 1.Please let me know that can the share application money be used for any purpose (e.g, payment to creditors) before allotment of shares in a private limited co?
2.An unlisted Company(Pvt. Or closely held Ltd Co.) received share application money from its promoters/directors. can any one please let me know what is the time limit for allotment of shares against the application money received.

URGENT....
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(Querist)
28 February 2013 what factors or situations could be called as oppression in case of private limited Company???
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Ajay Mishra

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Ajay Mishra (Expert)
28 February 2013 Hi

In case of private limited company no time limit for holding share application money.
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