Share Application Money
This query is : Resolved
Amit Agarwal
(Querist)
06 October 2010
Is there any limit to allot shares against share application money received. if yes what is the time limit.
Ajay Mishra
(Expert)
07 October 2010
Hi
Generally , in Companies Act, 1956 there is no tile limit for utilizing of share application money. You can take such money year after year in Balance Sheet.
But in case of share application money taken under FDI scheme, you must allot share to the foreign person with in 6 months from the received of consideration for allotment.
Regards
Generally , in Companies Act, 1956 there is no tile limit for utilizing of share application money. You can take such money year after year in Balance Sheet.
But in case of share application money taken under FDI scheme, you must allot share to the foreign person with in 6 months from the received of consideration for allotment.
Regards
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