Kindly let me know in relation to the Unlisted Company (Preferential Allotment) amendment rules, 2011, the time limit of 60 days for preferential allotment will start from the date of offer for preferential allotment by the Company or from the date recieving of the share application money recieved from the shareholders?
Please reply.
Hi
It is mentioned there specifically Rule 8(4) that 60 days from "receipt of applicaion money", And also practically it should be from date of receipt also
agreee with above
Kindly reply
We have a Unlisted public company in which we have received some amount as loans & advances
now we want to issue shares to the companies from which we recd money. Now can we take a letter from the co's that the loans & advances shall be treated as Share application money. & then we will transfer the money into separate bank account after getting that letter.
whther this can be done?
CAclubindia
