Respected All,
1) Can Pvt Ltd Co can Allot shares on Cash Bases,
2) Now suppose Shares Allotted toDirectors against cash 6 months prior, but provision of section 75 not followed, what will be the penalty.
Gokul Malpani (Proprietor) (92 Points)
13 May 2010Respected All,
1) Can Pvt Ltd Co can Allot shares on Cash Bases,
2) Now suppose Shares Allotted toDirectors against cash 6 months prior, but provision of section 75 not followed, what will be the penalty.
Jagruti (CS)
(Service)
(1953 Points)
Replied 14 May 2010
Yes of course Pvt. Company can issue shares on Cash.
For not filing Form 2 in time there will be additional penalty base on Authorised Capital of the COmpany which you can calculate in below link:
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