if i transfer the share application money to paid up capital then how can I do this? I mean is there any specific procedure to transfer the capital as per act?
5 Replies
Jaideep
(Service)
(1368 Points)
Replied 03 March 2011
Hi,
Application money can be transfered to paid-up capital, only after allotment of shares. For allotment, Board Resolution is required and Form 2 should be filed with ROC.
Regards
Jaideep Pandya
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 03 March 2011
Application money can only be transfered to paid-up capital, after allotment of shares. For allotment, Board Resolution is required.
After allotment of shares in the Board Meeting the amount from the share application money can be transferred to Share Capital Account.
Further, Form 2 should be filed with ROC within 30 days of date of allotment.
Jayashree S Iyer
(Company Secretary)
(3224 Points)
Replied 04 March 2011
Form 2 format is in available on mca website (www.mca.gov.in) which you can be downloaded. You have to attach list of allotees to Form 2.
Vikash Kharvar
(Dy. Manager -F&A)
(469 Points)
Replied 04 March 2011
Mr. CS Ankur Srivastava's openion is right.
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