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Share application money

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 March 2014 Suppose, i got share application money Rs 545.00, where as per share cost Rs 10.00, now my question is that is, I issue 50 nos of share to investor or asked them to pay Rs 5.00 more so that i can issue 51 nos of shares.

Mean, can i call further money from investor once i recd as share application money to round off nos. of shares.
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Anand

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Anand (Expert)
26 March 2014 I am sure the application money would be accompanied with a form stating the number of shares applied for by the Applicant. If he has applied for 51 Shares then you can call for the balance amount if not allot for 50 shares and refund the balance amount.
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Querist : Anonymous

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Querist : Anonymous (Querist)
26 March 2014 Thnx Mr Anand, its a pvt ltd firm and non listed co and application money recd on account, not in a form format or formalites, jst investor deposit a sum of money into my pvt ltd bank
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