24 September 2011
HOW MANY DAYS THE SHARE APPLICATION AMOUNT HELD BY THE COMPANY?
Guest
Guest
(Expert)
24 September 2011
Dear Frnd,
A Company needs to refund the Un allotted share application money with in 120 days, in case of rejection. After the fore mentioned period, the interest shall be charged @ 6.5 % per annum on pending share allotment money ( which was rejected ).
Besides, it could lead to Adverse remarks in case of un allotted amount !