Share application money in private ltd.co.

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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

Replies (1)

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

 

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