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What are the consequences if shares are not allotted and application money is not refunded?On complying with Deposit provisions can such amount be put to use for any purpose other than allotment.

Section 42 - Issue of shares on private placement basis.

Posted By: Sandhya 10 year(s) ago

This question has been closed if you want to answer,you have to re-open.


    GOPAL JI AGRAWAL

Deposit provisions are complied in advance only not after acceptance of deposit,

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Expert    Ankit Singhi

Yes but you have to comply with all the deposit provisions

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