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share application money

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(Querist)
17 May 2011 how company can utilise the money received from share application money?
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CS Bijoy

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CS Bijoy (Expert)
17 May 2011 Share application money is given by the allot tee and the company issue share to the applicant and transfer the money to share capital account.
The company can use this money as per the requirement of the company, but not beyond the rules mention in the MOA and AOA.
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