allotment of shars

This query is : Resolved

RAMPRASATH R (Querist)
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13 September 2008 whether a pvt co which has 1 crore as authoised capital can have 2 crores as share application money and file the return to roc. what is the time limit for allotment of such shares

Jitender

Jitender (Expert)
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14 September 2008 u can't allot shares more than the authorised.

Jatin Jindal

Jatin Jindal (Expert)
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15 September 2008 What is authority/support behind this statement.

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CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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15 September 2008 The Authorised Capital is always given in the Memorandum of the company. It is is the maximum amount of capital a company is authorised to raise from the public.

A company may, however, accept share application money in excess of the authorised capital and get its authorised capital increased simultaneously in anticipation of the fresh allotment.