Section 150(1)

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Querist : Anonymous (Querist)
17 July 2010 COMPANY :X" INVESTED IN COMPANY "Y" WHICH WAS INCORPORATED ON 27/01/2009,APPLICATION OF EQUITY SHARES WERE MADE ON 23/03/2009, WHILE THE CHEQUES WERE ISSUED ON 25/03/2009 AND 27/03/2009. KINDLY LET US KNOW WHAT SHOULD BE THE ALLOTMENT DATE FOR COMPANY X"

19 July 2010 Allotment of shares can be made only after application money has been received [refer Section 75(1)(a)]

Hence the date of allotment can be 27/3/09 or any date after that date.



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