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Used share application money

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(Querist)
19 November 2013 dear sir may staff hu nbfc co. ka humare board ke director new share issue karna chahte hai hum janna chahte hai kya co. share application money used kar sakte hai koi procedure batai
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Ajay Mishra

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Ajay Mishra (Expert)
19 November 2013 Yes you can use share application money for issuing of shares to such concern investor.

You can not use share application money for allotting shares to other person.

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