Can a private limited company can hold share application money for a unlimited time period because Section 69 of Companies Act is saying about Application money received from public?
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Share Application Money
Replies (3)
Nidhi!
I think, if any company holds unalloted share application money for a period exceeding seven years, then it has be depoisted in the Investors Education Fund. So, i believe that the statutory holding period for share application money is seven years.
Yes, Private Company can hold Share Application Money Upto Seven Years.But in case related PArty Share aplication money can be held for unlmited time.
| Originally posted by :Manish | ||
| " | Nidhi! I think, if any company holds unalloted share application money for a period exceeding seven years, then it has be depoisted in the Investors Education Fund. So, i believe that the statutory holding period for share application money is seven years. |
" |
But under which provision of Companies Act has it been laid down that the private unlisted company can retain the share application money for 7 years.........Section or Judgment?
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