Share application money peding allotment
This query is : Resolved
11 November 2010
How many days an existing pvt limited company can keep the share application money received without allotment of shares.
11 November 2010
There is no limit as per compaies act. however shares should be allotted within a period of six months.
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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
Views of eminent experts are welcome.....
Best Regards
Udit Sharma
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11 November 2010
Thanks for your reply sir.
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