Dear Professional Colleagues,
Can a Private Limited Co.can accept Share Application Money over & above its Authorised Share Capital?
Please also try to quote any caselaw/judgement (if any) given against the decision given in ITO vs Nandi Promoters(P) Ltd.
Thanku
dear sanjay,
the total of paid up share capital & share application money should not exceed the authorised share capital.
i dont know any case law on this but i am 100% sure about this.
regds,
sangram
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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