banner_ad

Share application money private limited company

This query is : Open 
Profile Image

Profile Image

(Querist)
04 February 2021 A private limited xompany has shown share application money in its book for 4 years.Money has been received by one of its director.what is the remedy available as per the law.
Profile Image

CA Ankith Jain

Profile Image

CA Ankith Jain (Expert)
04 February 2021 As per the act, it is mandatory to allot share within 60days of receipt of application money. If not allotted, then the same to repaid within 15days along with interest of 12% p.a. As you said, it is showing in BS since 4 yrs, it is already a contravention. I suggest you to issue the shares or return the money along with interest.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
26 April 2026
Chartered Accountant

Source HR

Mumbai

CA

View Details
Company
05 May 2026
Accountant

Sanjay K Pathak & Associates

Noida

Graduate (Any)

View Details
Company
29 April 2026
Associate - Audit, Tax & Compliance

Open Co Consulting LLP

New Delhi

B.Com

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details