share application money
This query is : Resolved
AMIT KEDIA
(Querist)
20 March 2009
Can a private limited co. accept share application money beyond its authorised capital. say auth cap of ABC pvt Ltd is 30 lacs and paid up cap is 25 lacs.
It has received share application for Rs.15 lacs. Is it correct?
Company intends to increase the authorised capital at the time of allotment which may be after 2-3 months.
It has received share application for Rs.15 lacs. Is it correct?
Company intends to increase the authorised capital at the time of allotment which may be after 2-3 months.
20 March 2009
no. first you need to increase your authorized capital
CA.Tarun Maheshwari
(Expert)
20 March 2009
Practically, you can do so. But the diffrence amount will have to be shown as Share premium. The face value of shares in total can not exceed the authorised capital.
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