Schedule vi

The relevant extracts from the Guidance note to Revised Schedule VI:

Specific disclosures are prescribed for Share Application money. The application money not exceeding the capital offered for issuance and to the extent not refundable will be shown separately on the face of the Balance Sheet. The amount in excess of subscripttion or if the requirements of minimum subscripttion are not met will be shown under “Other current liabilities.”

Share Application money pending allotment is to be disclosed as a separate line item on the face of Balance Sheet between “Shareholders’ Funds” and “Non-current Liabilities”. Share application money not exceeding the issued capital and to the extent not refundable is to be disclosed unde rthis line item. If the company’s issued capital is more than the authorized capital and approval of increase in authorized capital is pending, the amount of share application money received over and above the authorized capital should be shown under the head “Other Current Liabilities”.

Hope i have cleared your question.

Thank you Mihir Doshi.

Can share application money ustilized (if unlisted pvt company) ,

and should it kept in separate bak account no and such details is to be shown

under revise schedule VI