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Acceptance of share application money

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(Querist)
14 January 2011 Hello all,
Please can anyone answer:

Can a private limited company accept share application money from another body corporate in the form of RTGS for an amount more than 1.4 crores ?
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Ram Avtar Singh

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Ram Avtar Singh (Expert)
14 January 2011 share application money can accept in RTGS.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
14 January 2011 yes it can though i am not very sure.
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