Allotment of equity shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2010 In what period attotment have to be made after receiving allotment money?

How much period we can kept money in application ?

Is there any provision in company law for period regarding allotment of money?

Jagruti (CS)

Jagruti (CS) (Expert)
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30 July 2010 Companies Act do not provide for the time limit upto which an application money need to be kept. But as per listing agreement time limit is one year.

If it is kept for long duration it may be treated as loan