Allotement of Shares

This query is : Resolved

Sumti Bhadani (Querist)
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20 October 2010 A private company issued the shares to increase its capital with the approval of GM. It has also received the application money but not alloted the shares for 1 year .
Is their any time period for allotment of shares in case of private company?
If yes than what and plz tell me the fine in case of late allotment.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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20 October 2010 I think u must have increased the authorised capital and not paid up in the general meeting.

There are no time limit set for allotment of shares after application is received but should be made within a period of 6 months.