Share application money in cash
This query is : Resolved
15 September 2014
Dear All,
Is there any restriction on cash receipt of share application money?
Is there any restriction on cash receipt of share application money?
15 September 2014
yes.
Pursuant to section 42(5) of the Companies Act, 2013, All monies payable towards subscription of securities under private placement shall be paid through cheque or demand draft or other banking channels but not by cash.
Pursuant to section 42(5) of the Companies Act, 2013, All monies payable towards subscription of securities under private placement shall be paid through cheque or demand draft or other banking channels but not by cash.
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