What is the minimum time limit for allotment of shares in case of an unlisted public company or a private company???
In my case the private co has received share application money of Rs. 20 crores on 30.09.2009 out of which it has alloted share worth Rs. 17 crores only on 30.01.2011. Is there any time limit within which we should allot the remaining shares also?
Kinldy also quote the provision of companies act, if any
Regards
there is no specific time limit for allotment of shares. Only thing is that the allotment should be made within a reasonable time., say an year. Further, the law is silent reg the minimum time limit for allotment of shares.
There is not any specific time limit for allotment but you may take 180days from the date of receipt of allication money for safer side
There is not any specific time limit for allotment but you may take 180days from the date of receipt of allication money for safer side
| Originally posted by : valji | ||
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Public company is required to do allotment in 60 days |
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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