Share application money

dipali shinde (company secretary) (163 Points)

01 February 2012  

Is there any minimum amount of share application money which has to be paid under the Companies Act, 1956 for allotment of shares?

Eg. 5%

Does the Board have the discretion subject to the Articles of Association to decide the application money to be called up on application?

Thanks in advance

 

Regards

 

Dipali Shinde