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?
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?
| 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?
R P S K & Associates
Nashik
CA Inter
View Details
Karia Overseas
Ahmedabad
CA
View Details
T R SOOD & CO
New Delhi
CA Inter
View Details
CAclubindia
