Can anyone help me out regarding
what are all the sections do get attracted for the share application money.
in what forms share application money can be received. can it be received in kind
please help me out for this
Regards
Sangeetha K
Sangeetha K (Articled Trainee) (24 Points)
04 February 2009Can anyone help me out regarding
what are all the sections do get attracted for the share application money.
in what forms share application money can be received. can it be received in kind
please help me out for this
Regards
Sangeetha K
NAVEEN NARANG
(COMPANY SECRETARY)
(71 Points)
Replied 04 February 2009
There is no specific provision in the Companies Act as to share application money. However, by virtue of section 75 share application money may be received in cash or in kind. When shares are alloted for a consideration other than cash, we need to file form 3 also alongwith form 2 in case when no agreement to this effect has been executed in writing. If an agreement has been executed for allotment of shares in kind only return of allotment in form 2 is filed with roc.
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