Share Application Money
This query is : Resolved
24 April 2010
Suppose the balance sheet as on 31.03.09 of a private limited company shows Rs. 5 lakhs received from a director as share application money.This money was returned to him in december 2009 without issuing any shares. During this period this amount was used for conducting business.
Is there any non compliances of Indian companies Act?
Is there any non compliances of Indian companies Act?
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