Time limit of share allotment

This query is : Resolved

Vipin Rathi (Querist)
Follow

02 July 2013 Our company has share application money pending allotment it is a private limited company. My query is is there any time limit within which the shares are to be alloted. Further can a private company convert its loans into shares.
If we are not alloted the share then any interest provision apply .

Kindly advise as per section.

Read more at: https://www.caclubindia.com/forum/share-application-money-pending-allotment-135440.asp

Ajay Mishra

Ajay Mishra (Expert)
Follow

02 July 2013 Hi

There is no time limit for holding of shares application money in private limited company. If you are holding of such application money from NRI then their is some restriction other wise not.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now