22 September 2007
Sir I would like to know the solution of the following situation:
1. A Private Company having aurhorished share capital of Rs 2,00,000/= but for requirment of cash the company issue share application money but not made alotment of share. This is the situation from last 2 years . What will be the possible threat in the above situation?
2. If the above mention company now increase their authorished share capital will the problem resolved?
3. If a Private Company want to issue Pref.Share capital whether they are elligible to do that?
22 September 2007
Primary thing is that a pvt co. can not issue shares to public. Second is that Pref share capital can not be issued by a pvt ltd co. and finally there is no penalty prescribed for pvt ltd abt share application money and actually the app. money is nothing but share capital of the owners/directors only
CAclubindia
