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Share application money

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27 February 2014 for what time period can a private limited company hold share application money if it has no intention to increase authorised share capital? is there any penal provision, is there any change in provision in this regard in companies bill 2013? please give reference of section number.
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
27 February 2014 Earlier there was no restriction for a private company to keep the share application money. However, under companies act, 2013 pvt companies have also bring into the restriction of 2 months.
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CS Ankur Srivastava

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CS Ankur Srivastava (Expert)
27 February 2014 Please refer section 26 and 42 of Companies Act, 2013.
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