Dear All,
A company has share appl money pending allotment on 31st march, 2014 and company allot shares in sep 2014. What are the consequenses?
Thanks
CS MOHIT SALUJA
(PRACTICING CS Jalandhar 9914558709)
(5155 Points)
Replied 10 January 2015
The application money will be treated as Deposits as per deposit Deposit rules and the company will have to pay fine under section 74 of CA 2013
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