Receiving of application money
This query is : Resolved
12 August 2009
Hi
can any one provide the solutions to the cc papers of cs executive programme and my attempt is dec 2009 .if any one has the solutions please mail me at sriram_8.30@rediffmail.com
Regards
Ram
can any one provide the solutions to the cc papers of cs executive programme and my attempt is dec 2009 .if any one has the solutions please mail me at sriram_8.30@rediffmail.com
Regards
Ram
12 August 2009
Whether a public limited company can receive share application money from directors without statement in lieu of prospectus
12 August 2009
Hi Rupesh,
YES.
A public limited company can receive share application money from directors without statement in lieu of prospectus.
When the Company has accepted the Share Application Money you should do one simple thing. You may record the above transaction i.e. receipt of share application money and assurance given to proposed allottee in the board meeting minutes.
In other words simple noting of such receipt in the board minutes would be enough.
Regarding time limit to convert such share application money into capital the law is silent. However as per practice allot share with 6 months of the receipt of application money.
Best Regards
YES.
A public limited company can receive share application money from directors without statement in lieu of prospectus.
When the Company has accepted the Share Application Money you should do one simple thing. You may record the above transaction i.e. receipt of share application money and assurance given to proposed allottee in the board meeting minutes.
In other words simple noting of such receipt in the board minutes would be enough.
Regarding time limit to convert such share application money into capital the law is silent. However as per practice allot share with 6 months of the receipt of application money.
Best Regards
12 August 2009
Further collect the share application form from the proposed allottee for your record. You may download the sample share application from the link mentioned below:
https://www.caclubindia.com/share_files/files_display.asp?files_id=11908
Regards
https://www.caclubindia.com/share_files/files_display.asp?files_id=11908
Regards
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
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Confusion around Form 26QB fields
- Sale of property furniture sale
- Filing of Form 10BB instead of Filing Form 10B
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
