law
This query is : Resolved
16 October 2009
Is there any time limit for allotment of shares after applicaion money has been recieved in case of a pvt ltd company?
16 October 2009
When the MOA is signed Shares are deemed to be subscribed and allotted.It can be trated as paid-up only when the actual payment is made( no time limit prescribed).
There is no specific provision and time limit in the companies Act 1956 regarding allotment of issued shares capital by a private company, but when ever foreign exchange involved in share application money, as per RBI guidelines it should be alloted with in 6 months otherwise the Forex should be refunded to the applicant.
There is no specific provision and time limit in the companies Act 1956 regarding allotment of issued shares capital by a private company, but when ever foreign exchange involved in share application money, as per RBI guidelines it should be alloted with in 6 months otherwise the Forex should be refunded to the applicant.
18 October 2009
Either the shares should be alloted within 4months of receipt of shareapplication money or the same has to be refunded.
23 October 2009
There is not any time limit for Pvt. Ltd. company to allot shares against the received application money.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Offsetting interest income against derivative trading losses
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
