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Share application money remaining unadjusted more than 6 yea

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I  want to know whether i should up load particulars in MCA portals with respect to 
SHAREAPPLICATION MONEYRECEIVED REMAING UNADJUSTED in Balancesheet
for more than  SIX YEARS
IN A PRIVATE  LTD  COMPANY  having  paid up share capital of Rs  1000000 (Tenlacs)
IN TERMS of sec 205c of the Companies Act.
 
I understand that there is no  time limit for   Pvt coy  with respect to utilisation of    shareapplication money received.
However  MCA have sent mail   instructing us to upload  in terms of  INVESTOR EDUCATION PROTECTION FUND RULES2012.
 
PLEASE ADVISE. MATTER MOST URGENT
 
Regards
 
M.Thangaraju-mthangaraju @ yahoomail.com
Replies (1)

Offer for allotment of shares must be a.ccepted by Board within reasonable period by passing resolution for allotment.  Six  months  period is very unreasonable and MCA is right in sending such mail.  You can immediately allot shares, file Form 2 and reply to MCA accordingly.  Else you will have to file Form 5INV.

 


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