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Share Application pending in Balance Sheet.

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(Querist)
24 August 2009 What is the time limit to allot share out of share application money in the balance sheet.
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Rasesh

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Rasesh (Expert)
24 August 2009 Until allotment is made, the amount has to be kept under share application money account only. There is no time frame within which allotment has to be completed.
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Ankur Garg

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Ankur Garg (Expert)
25 August 2009 Regarding time limit to convert such share application money into capital the law is silent. However as per practice allot share with 6 months of the receipt of application money.

Best Regards
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
25 August 2009 I dont think the limit is so long it shoudl be around as lot of Shre holders money which is substantial in amount is at stack. It should be around a month
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Arvind Kumar Shukla

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Arvind Kumar Shukla (Querist)
01 April 2014 Thanks for your valuable suggation.
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