Mine is 2 question
1. shares are alloted fully before the shares are fully paid or application money received or alloted fully on or after fully paid.?
2. if alloted on application money rcvd then, is share certificate issued, means can share certificate can be issued to partly paid share.
or share certicicate is issued only fully paid shares?
with section any views?
Pls refer Section 69 of CA, 1956.
Company can allot shares after receipt of minimum subscripttion amount as stated in prospectus and thus can also issue share certificates, even if the call money is unpaid.
Shyam S Gupta and Company
New Delhi
CA Inter
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CCI
Pro
CAclubindia
