Share Application money
This query is : Resolved
02 July 2009
Dear Sirs,
A Company's issued capital is equal to its authorized capital.
Whether a company can accept further any share application money in this situation. (the company has not issued any shares but only accepted the share application money)
if yes, to what extant.
if no why?
A Company's issued capital is equal to its authorized capital.
Whether a company can accept further any share application money in this situation. (the company has not issued any shares but only accepted the share application money)
if yes, to what extant.
if no why?
CA. B.SRINIVASULU
(Expert)
02 July 2009
No you cannot accept. First you should increase the authorised capital and then only you can collect additional share application money.
02 July 2009
AGREE WITH THE EXPERT
CA Nitin Wadhwani
(Expert)
03 July 2009
Share Application money is not paid-up capital.
So, you can definitely accept Share Application Money but you cannot allot shares.
So, you can definitely accept Share Application Money but you cannot allot shares.
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