Share application money peding allotment

Save Share

This query is : Resolved

RAJASHEKHAR.S.A

RAJASHEKHAR.S.A (Querist)

11 November 2010 How many days an existing pvt limited company can keep the share application money received without allotment of shares.

Aditya Maheshwari

Aditya Maheshwari (Expert)

11 November 2010 There is no limit as per compaies act. however shares should be allotted within a period of six months.

Message likes : 1 times

udit sharma

udit sharma (Expert)

11 November 2010 Agreed with Mr. Aditya..... However there is no prescribed time limit under the Companies Act, 1956 but the period of 6 months as quoted by Mr. Aditya is prescribed in the FDI Circular issued by the Reserve Bank of India on 01.07.2010 for a sunset period of 1 year and needless to say applies only to the share application money received from outside india.......

Views of eminent experts are welcome.....

Best Regards

Udit Sharma

Message likes : 1 times

RAJASHEKHAR.S.A

RAJASHEKHAR.S.A (Querist)

11 November 2010 Thanks for your reply sir.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now