Share application money

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company secretary
163 Points Joined February 2011

Is there any minimum amount of share application money which has to be paid under the Companies Act, 1956 for allotment of shares?

Eg. 5%

Does the Board have the discretion subject to the Articles of Association to decide the application money to be called up on application?

Thanks in advance

 

Regards

 

Dipali Shinde

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On 01 February 2012 at 18:23 Report
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Company Secretary and Compliance Officer
114788 Points Joined January 2009

Hi Dipali,

 

Nothing is mentioned in Law as far as minimum application money concerned. However as per my understanding board is free to prescribe a reasonable minimum sum of application money through AOA.

 

Regards

1 Reply
On 02 February 2012 at 15:04


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