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Share application money

171 views 5 replies

Dear Experts,

Can we keep Share applictation money ?

If yes- How much time can we keep it

If No- what happen if we keep it.?

And suggest me  relevent sections and rules

Thank you

Replies (5)
Refer section 42...within 60 days of receiving application money co have to allot share... If failed then within next 15 days money refunded to shareholders... After then 12% pa interest charged
Rule 13 thereon capital and debentures

15% or 12% sir

 

In earlier law it is 15%, now in section 42..12%

Thank you sir

 


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