Prabhavathy, M.Com, ACA (Chartered Accountant) (35 Points)
02 July 2011Can a private limited company receive share application/allotment money after allotment of shares. What will be the implication
Jaideep
(Service)
(1368 Points)
Replied 02 July 2011
Nope...can not receive share application/allotment money after allotment of shares.
I think it will be irregular allotment and will be voidable at the option of members, ROC can impose penalties on the concerned directors and officials.
Regards
Jaideep Pandya
CA Suraj Prasad Shaw
(Chartered Accountant)
(504 Points)
Replied 02 July 2011
Agree with Jaideep Sir..............
Nidhi Jain
(CS )
(987 Points)
Replied 02 July 2011
I also agree with above view but I have no Practical experience regarding formation of Co. because in the case of subscriber they become the member of the Co. And generally they are also the promoter of Co.
I have not found any provision in this respect in company law in case of pvt. co.
U have to post this query in expert section
praveen
(Chartered Accountant)
(6971 Points)
Replied 03 July 2011
| Originally posted by : prabhavathy | ||
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Can a private limited company receive share application/allotment money after allotment of shares. What will be the implication |
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NOT POSSIBLE.
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