Tag Archives: Application Money

Refund of Application Money if minimum amount not subscribed

By | December 21, 2015

One of our client companies has received share application money in April 2015 but shares have not been allotted so far. And now company doesn’t want to allot shares on the amount so received. Kindly advice whether we can return that amount now. Answer: As per Rule 11 of Companies (Prospectus & allotment of securities) rules… Read More »