Share application money

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Manisha (Querist)
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07 June 2016 Company is having share application money pending for allotment from one of the shareholder and the company is having sufficient authorised share capital. Now company want to issue share to that shareholder against the money received from him what is the procedure that company can follow to do the same.

Purnima Parashar

Purnima Parashar (Expert)
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07 June 2016 Pass Board resolution and file form PAS-3 for allotment of share

Manisha

Manisha (Querist)
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07 June 2016 This Share Application money is standing in the company's books of account from 2013 then also it can be done by passing BR. If yes can you please help me out with the draft BR.

Pratik Shah

Pratik Shah (Expert)
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07 June 2016 As per amendment in Deposit rules, the share application money received before 31.03.2014, it was required to refund before 01.06.2015. You can not allot shares now.

Rupesh Jain

Rupesh Jain (Expert)
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07 June 2016 call director meeting and file the form with ROC.

Manisha

Manisha (Querist)
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07 June 2016 Rupesh Sir,

There was a case pending to CLB unber section 398 that is why co. did not able to issue the share against that money. Now company want to issue share against that money.

If u could just help me out with draft resolution i will be highly oblidged.

Thanks.

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