SHARE CAPITAL

This query is : Resolved

PARIMAL DILIPKUMAR GOLWALA (Querist)
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30 June 2010 A PRIVATE LIMITED COMPANY STARTED OF RS. ONE LACS AS A PAID UP SHARE CAPITAL BUT TOTAL PAID UP SHARE CAPITAL AMOUNT OF RS. 1.02 LACS RECEIVED FROM DIRECTORS SO, QUESTION ABOUT THAT WHAT SHOULD BE TAKEN ACTION ABOUT BOOKS OF ACCOUNTS AND COMPANY FOR EXCESS OF SHARE CAPITAL RECEIVED FROM DIRECTORS ?

Ankur Garg

Ankur Garg (Expert)
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30 June 2010 As it is a very small amount of Rs. 2000 so i would suggest you to refund the same amount to the concerned subscriber.

Another way out is to show the same amount in liability side as share application money pending allotment. But this method is not really feasible for this small amount. So refund the amount.

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PARIMAL DILIPKUMAR GOLWALA

PARIMAL DILIPKUMAR GOLWALA (Querist)
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01 July 2010 THANKED YOU SIR
BUT SIR IT'S SUBSCRIBED ON BEFORE 31ST MARCH 2010 SO WHAT SHOULD BE EFFECT GIVEN IN THE BOOKS OF ACCOUNTS AS ON DATED 31-03-2010 AND ALSO COMPLY WITH CORPORATE LAW

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