Please let me know the detailed procedure need to follow if
a Pvt. Ltd. fails to allot the partial amount of share application money received through automated route of Bank(say out of Foreign inward remittance as share application money received for 5,00000, only 1,00000 was issued) for a period of more than 1 years from the date of receiving the application money, if company wants to repay back the rest of application money received.
hope for quick and most practical way to sort out.
CAclubindia
