one of my client company have share apllication money pending for allotment on balancesheet date31/03/2013.the roc has raised show cause notice for not filling form 5INV ON JUNE 10.2014.COMPANY IS PRIVATE LIMITED.PLEASE ADVICED ME ,WHAT I WILL DO
Pankaj jhunjhunwala (CA) (97 Points)
14 June 2014
RoHaN k
(CA & CS)
(308 Points)
Replied 14 June 2014
Sir, in my openion,
1] You should file 5INV Now for 31.3.2013. ( If your date of allotment falls after 31.3.2013).
2] You should have refunded such unalloted amount on 75th day from the day you received Share Application money.
3] Now money should be refunded fully before 30.6.2014, otherwise it will be treated as deposits.
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