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Pending share allotment

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Querist : Anonymous

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Querist : Anonymous (Querist)
17 July 2014 A comany has share application money received pending allotment for two years. now the company wants to allot share. is there any consequences regarding this. can company allot share after two years. share application money pending allotment is shown in the balance sheet of company for last two years.
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Ganeshbabu K

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Ganeshbabu K (Expert)
20 July 2014 Yes there will be no issues with allotting this as share capital
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it is recommended to convert it as sharecapital or refund it

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