05 January 2012
Is there any such limitation in Company Law that we cannot accept share applications beyond the authorised share capital of the company....
Companies Act does not provide this type of Restriction.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
05 January 2012
Thank u sir for your prompt reply.... Bt plz confirm one more thing that is there any supreme court ruling in this regards i.e. accepting share application in accordance with the authorised capital only.....
06 January 2012
Receipt of share application money over and above of Authorised capital is not a default at all. Reason being share application money is not in the nature of paid up capital unless and until allotment of share against the share application money ...Lastly "Contract Act" need to be checked with your intention for such application money
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