Rajeev Singla (Company Secretary) (28 Points)
30 June 2009Can any one please guide me, for how much time a Company can keep money in Share Application account pending allotment, both in case of listed and unlisted companies. Is there any restriction of 6 months, after which Company has to treat it as deposit and pay interest on it. If there are any such guidlines, please tell from where I can get the same
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 30 June 2009
Dear Mr. Rajeev
I think this attachment regarding share application will help you.
Regards
Malav Shah
(Company Secretary and AVP Legal)
(171 Points)
Replied 30 June 2009
Mr. Ajay Mishra
The disussion is very good and clarifies a lot.
thanks
Malav
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 30 June 2009
Thanks for the attachment Mr. Mishra.
Rahul Chobdar
(Chartered Accountant (Financial Management))
(561 Points)
Replied 01 July 2009
Thank u Ajay Sir
Venkat Rao Marella
(Manager Business Finance)
(1451 Points)
Replied 01 July 2009
Mr. Ajay..The note on share application money is great.
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