Allotment of Shares in a newly incorporated P Ltd Company

Hemraj Sethia (CA) (38 Points)

05 June 2008  

Dear Members

Following are the facts for a newly incorporated P Ltd company

Date of Incorporation: 21 Apr 2008

Issue of Shares: 15 May 2008

The company has been formed as a subsidiary of an existing P Ltd Co with only two members/shareholders and started operations on Working Capital of holding company. How much money is compulsory to be received by the new company before /on allotment of shares. Please specify is application money is not compulsory.

Please help!