sakshi (CS) (261 Points)
30 May 2011What is the minimum time limit for allotment of shares in case of an unlisted public company or a private company???
In my case the private co has received share application money of Rs. 20 crores on 30.09.2009 out of which it has alloted share worth Rs. 17 crores only on 30.01.2011. Is there any time limit within which we should allot the remaining shares also?
Kinldy also quote the provision of companies act, if any
Regards
RANJITH.R
(SECRETARIAL EXECUTIVE)
(49 Points)
Replied 30 May 2011
there is no specific time limit for allotment of shares. Only thing is that the allotment should be made within a reasonable time., say an year. Further, the law is silent reg the minimum time limit for allotment of shares.
valji
(Accounts manager-MBA)
(2150 Points)
Replied 30 May 2011
There is not any specific time limit for allotment but you may take 180days from the date of receipt of allication money for safer side
valji
(Accounts manager-MBA)
(2150 Points)
Replied 30 May 2011
There is not any specific time limit for allotment but you may take 180days from the date of receipt of allication money for safer side
CA Dileep Nihalani
(CA)
(29 Points)
Replied 31 December 2013
| Originally posted by : valji | ||
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Public company is required to do allotment in 60 days |
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CAclubindia
