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shre application money

This query is : Resolved 

26 July 2010 can any one tell me dat in a private limited co. treatment of excess share application money which has not been refunded & not transferred in investor protection fund.....is there any due date for allotment of share in pvt. co.after which it will be due for refund....?

26 July 2010 There is no date undre companies act for private limited company.

27 July 2010 Companies act is silent about any time limit. However it is advisable to allot shares against appl. money or refund the money.

Regards

27 July 2010 thanx sir.. bt cn u tell if refundable app. money neither refunded nor transferred to IPF
in that condition what r the provisions in case of pvt. co.

27 July 2010 There is nothing in act to regulate the amount in case of pvt. ltd. co. as already explained


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