Dear All,
If A is applicant of share application and B pays to Company on behalf of A share application money to company directly, will that be acceptable.
Kinldy let know where in Law mentioned that share application money should come from applicant`s bank account only. Preferebly Pls quote the secttion.
Ratika
Rule 14(2)(d) of the Companies (Prospectus and Allotment of Securities) Rules, 2014
(d) the payment to be made for subscripttion to securities shall be made from the bank account of the person subscribing to such securities and the company shall keep the record of the Bank account from where such payments for subscripttions have been received:
Provided that monies payable on subscripttion to securities to be held by joint holders shall be paid from the bank account of the person whose name appears first in the application.
nice info.
CAclubindia
