manju (ACS FINAL STUDENT) (75 Points)

04 August 2009  

my query is -  a pvt ltd co. having authorised capital of rs.1000000 and paid up capital also rs.100000, can have share application money of RS.6600000 withour increasing authorised capital? here there is no intention to allot shares against share application is just an internal adjustment which the company wants to make in the balance sheet. and what is the procedure to return the application money whether needed egm or agm?