In respect of private limited company whether share application money can be collected from outside parties other than existing share holders
if ok
what is the time limit to hold the amount
what is the maximum amount
4 Replies
HARISH KUMAR SADANA
(SERVICE)
(83 Points)
Replied 04 March 2008
yes, a pvt ltd co. can take amount as share application money from outsider. it can hold it for 1 (one ) year only as share application money, with in a year it needs to allot shares ag share appl. money.
Natesh
(CA Practice )
(71 Points)
Replied 04 March 2008
thank you harish however i want to know which section under companies act will explain about this so that i can confirm
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