Time period for allotment of shares
This query is : Resolved
11 September 2013
OUR COMPANY IS A PRIVATE LIMITED COMPANY. THE COMPANY HAS RECEIVED MONEY FROM OVERSEAS FOR ALLOTMENT OF SHARES TO FOREIGN SHAREHOLDERS.
THE COMPANY HAS RECEIVED MONEY ON 17/04/2013 AND 17/05/2013 THROUGH PROPER BANKING CHANNELS.
AS PER RBI NORMS THE PRIVATE LTD CO. HAS TO ALLOT MONEY WITHIN 180 DAYS FROM THE DATE OF RECEIPT OF MONEY INTO THE BANK ACCOUNT.
MY QUESTION IS FROM WHICH DATE THE PERIOD OF 180 DAYS BE CALCULATED FOR THE PURPOSE OF ALLOTMENT OF SHARES. AS THE COMPANY RECEIVES THE MONEY IN INSTALLMENTS (PART - PART WISE)
THE COMPANY HAS RECEIVED MONEY ON 17/04/2013 AND 17/05/2013 THROUGH PROPER BANKING CHANNELS.
AS PER RBI NORMS THE PRIVATE LTD CO. HAS TO ALLOT MONEY WITHIN 180 DAYS FROM THE DATE OF RECEIPT OF MONEY INTO THE BANK ACCOUNT.
MY QUESTION IS FROM WHICH DATE THE PERIOD OF 180 DAYS BE CALCULATED FOR THE PURPOSE OF ALLOTMENT OF SHARES. AS THE COMPANY RECEIVES THE MONEY IN INSTALLMENTS (PART - PART WISE)
11 September 2013
I have face the same problem
I have allotted the shares on receipt of all money.
The RBI issued a letter to me about the details of allotment.
There after they have not issued any letter since last two years.
But you will intimate the details of the amount of consideration, to the Regional office concerned of the Reserve Bank not later than 30 days from the date of receipt in the advance as and when you receive.
I have allotted the shares on receipt of all money.
The RBI issued a letter to me about the details of allotment.
There after they have not issued any letter since last two years.
But you will intimate the details of the amount of consideration, to the Regional office concerned of the Reserve Bank not later than 30 days from the date of receipt in the advance as and when you receive.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
