Kumar-Sujeet (Sr. Accounts Officer) (282 Points)
02 March 2012Dear Team Members,
kindly suggest me for the below problem
our company issue redemable pref shares on the date of money receipt we receive the total amount of a shares
but in share certificate we print the allotment date as shown in money receipt its true ya false
give the cercular on behalf of this
quarry is the application date same with allotment date
Sonam Bidasaria
(CA)
(770 Points)
Replied 12 March 2012
Application date is not the same as allotment date. After receiving application money, the Company will have to pass a Board Resolution for allotment of shares and then have to file Form 2.
Thus, in your case, if on the date of receipt of application money, the Board has decided to allot the shares and filed Form 2, and only after then shares certificate will be issued and
"Date of allotment" and not "Date of receipt of Application money" will be written.
But, in the instant case, both dates are same.
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