in a Pvt. Ltd. company if the pending share application money is nt exceeding the authorised share capital but a big amount is received from some other pvt co.'s where the directors are same , is it required to allot or refund the share application money or section 186 will also attract of new Co's Act. or wht else can be done pls suggest soon.,
There are two options which you can opt for :-
1) Either Convert the first company as a LLP. All the applicable rules wont apply.
2) Secondly, The first company can purchase share of other company upto a limit and if that limit is crossed then the company just need to file a special Resolution for the same.
but i prefer the first option.
Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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