The allotment shall be made within 60 days from the date of receipt of the application money and if company fails to allot the shares within that period it shall repay the application money within 15 days from the date of completion of 60 days and if company fails to repay the application money within the aforesaid period it shall be liable to repay tha money with interest at the rate of 12% per annum from the expiry of the sixtieth day.
Futher file PAS-3 to roc within 30 days
penalty : 1000 per day or rs. 100000 lac wchever is lesser
SECTION 42 AND 62
APPLICABLE ON ALL COMPANIES
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
