in a Pvt. Ltd. company if the pending share application money is nt exceeding the authorised share capital but a big amount is received from some other pvt co.'s where the directors are same , is it required to allot or refund the share application money or section 186 will also attract of new Co's Act. or wht else can be done pls suggest soon.,
1 Replies
CA Gaurav Mittal
(Partner)
(1230 Points)
Replied 26 May 2014
There are two options which you can opt for :-
1) Either Convert the first company as a LLP. All the applicable rules wont apply.
2) Secondly, The first company can purchase share of other company upto a limit and if that limit is crossed then the company just need to file a special Resolution for the same.
but i prefer the first option.
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