When a private limited company is issuing further shares through private placement, whether actual receipt of money in a separate bank account shall be considered as share application money or cheque in hand also constitutes the same.
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Share application money under private placement
Replies (3)
Share Application Money should be received in bank account.Mere receipt of cheque in hand is not a compliance in order to allot shares.
Actual receipt of money in the share application account is to be considered....Cheques in hand not to be considered......
I agree with the above answers
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