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Can the share application money pending as on 31.03.2014 (pertaining to previous years )be adjusted towards allotment of shares u/s 42 of Comapnies Act,2013?

Section 42 - Issue of shares on private placement basis.

Posted By: Kanika gupta 9 year(s) ago

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


    Anil

Yes. You cannot keep the share application money pending allotment for more than 60 days. The same is required to be allotted within a period of 60 days from the date of its receipt.

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