Pending allotment money
This query is : Resolved
Huzefa Ali Manager
(Querist)
14 April 2014
if I am having pending allot miney as on date 31 march.wiil new act wil b appkicable on that money..means whether I have to allot shares for it in 60 days..if suppose 60 days have elapsed as required under neq ca 2013 and I have nt alloted shares dan what wil happen..if I allot it nw as if there is no form available to aubmit to roc..plz helo sir what is the way to solve it as I dnt want such money to be mwntioned in my balance sheet of this year
14 April 2014
U have two option
1) U have to allot share within 60 days or
2) U have to refund application money
Otherwise such application money is treated as Public deposit and RBI rules and regulation apply accordingly
1) U have to allot share within 60 days or
2) U have to refund application money
Otherwise such application money is treated as Public deposit and RBI rules and regulation apply accordingly
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