16 July 2010
One of Our Client has issued share capital in the month of March by filing Form 2 for the shares worth Rs. 1.5 cr. However till the date of allotment only 50 lakhs of the amount was received. rest 1 cr was received in the month of April. In Form 2 it has been shown as issue of shares for cash with fully paid up.
Suggest on how to incorporate in BS as on 31 march.
16 July 2010
Form nO 2 is the information given by a Company to ROC for Allotment of shares. The cOmpany can only allot the shares if he receives the application money.
In out case I uderstand that you have issued shares withour receiving the Application Money.
There may be other case also that Company called part of paid face value of shares as an applcation money and allotment of frst call money is due. If this be the case, the presentation should be as follows:
------- shares of Rs. 10 each, Rs. ----- called up
17 July 2010
Agreed, if cheque date is for the month of March 2010, then you can show it bank statment as uncleared cheque. Then no need to revise form 2.
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