Share Application Money Pending Allotment as per Companies Act, 2013

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  1. Corporate Summit

    Corporate Summit New Member

    Dear all,
    what will be the consequences as per Companies Act, 2013,if
    1. Share Application Money Pending allotment is standing in the books as on 31.03.2014 ?
    2. What is the time period within which i am required to return the money or allot shares?
    3. As there is no clarification in the act, only (60+15) days has been specified. But if Application money is already standing in the books then from which date we would start our calculation of 60 days.?
    Kindly share your precious views on the said query.
    Thanks & Regards Abhishek Kumar Email Id.:akdelhi95 @ gmail.com
     
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