WHAT ARE THE PENAL PROVISON FOR PVT. LTD. COMPANY WHO UTILISED SHARE APPLICATION MONEY WITHOUT ALLOTING SHARES.
CA rohit swami (CHARTERED ACCOUNTANT) (262 Points)
23 April 2013WHAT ARE THE PENAL PROVISON FOR PVT. LTD. COMPANY WHO UTILISED SHARE APPLICATION MONEY WITHOUT ALLOTING SHARES.
Sneha
(Company Secretary)
(1594 Points)
Replied 25 April 2013
Companies Act is silent regarding this. The amendment which came in December, 2011 was for unlisted public company. Hence the situation in private company remains the same.
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