Time period
This query is : Resolved
Harishankar Thakur
(Querist)
09 December 2009
what is the time period for which a company, whether a private or public company can retain share application money????and in case of default what is the consequenses? please advise in breif..
Ankur Garg
(Expert)
09 December 2009
Hi,
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.
Further collect the share application form from the proposed allottee for your record. You may download the sample share application from the link mentioned below:
https://www.caclubindia.com/share_files/files_display.asp?files_id=11908
Regards
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.
Further collect the share application form from the proposed allottee for your record. You may download the sample share application from the link mentioned below:
https://www.caclubindia.com/share_files/files_display.asp?files_id=11908
Regards
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