09 October 2014
Yes rejection is very much possible by shareholders. In this case it is advisable to adjourned the AGM after transacting other agenda items.
shareholders may on the spot suggest the name of shareholders which may be considered in the adjourned AGM after collecting approval and certificates section (139 and 141) from auditors.
our client company(PVT) receive share application money(15000 shares @10 ) in cash from one of the directors on 8-FEB-2014.But they didn't open separate bank account .Till now , the company didn't allot the share.company wants to allot the shares.
what is course of action to avoid penalty , what e-forms to be filed for allotment.whether share application money received in cash is prohibited.
CAclubindia
