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Can a pvt ltd company refund share application money

Kamal Verma (Financial advisor) (587 Points)

27 November 2020

Dear experts,

Can a pvt ltd company refund the share application money? Kindly share all latest updates regarding share application money for pvt ltd. company,

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1 Replies

Chirag (Professional) (1979 Points)
Replied 28 November 2020

If company fails to allot shares within 60 days then within 15 days of expiry of 60 days company need to refund back the application money, failure to do so will attract interest and also fall under deposit, [Read company share capital and debentures rules with cos PAS rules /AOD rules ]...