Section 150(1)
This query is : Resolved
Querist : Anonymous
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.
Hence the date of allotment can be 27/3/09 or any date after that date.
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