share application money pending allotment

Giridharan K (Student) (123 Points)

18 December 2009  

Hi All

What is Share Applicaiton money Pending Allotment?  Why is it shown seperately in Balance sheet?  I couldn't find it in Schedule VI. What's the stipulated time for returning application money received not alloted and if not returned within the stipulated time, what are the consequences?

Kindly explain me