Excess share application money received

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2013 If the private limited company received extra amount as share application money against number of shares it wish to allot, then how to refund this money to applicant? Is there any process? How to mention this transaction in board resolution of allotment?

Ajay Mishra

Ajay Mishra (Expert)
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20 November 2013 In Board Resolution in which you have made allotment made a comentry that excess application money will be refunded to the investor with or without interest. No need to made a resolution for that.