20 February 2009
Dear Frnds, I do like to ask that tll what time the shre application money can be kept without alloting or refunding to any one in same form as share application maoney. Plz also ref the relevant provision. Plz also do refer the full procedure for treatment of share application money Thanx
24 February 2009
In Companies Act, no where in act, time limit for witholding the appl. money is stated. However as per listing agreement, it can be kept for maximum one year.
If share application money is to be refunded than it will be under Current Liabilites but if it is to be allotted than will shown below Share capital Schedule in Accounts.
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