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The Companies Act, 2013 provides 60 days time from the date of receipt of the subscription amount for the purpose of allotment of securities. Can an unlisted public company utilise the subscription money prior to allotment of securities.

Fund raising

Posted By: Arun kumar 10 year(s) ago

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


Expert    Ankit Singhi

As per section proviso to section 41(6), the money cannot be utilized before allotment

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