Friday, 2 May 2014

Share Application Money:

All pending share application as on 31/03/2014 should be allotted or refunded immediately. Restrictions on future share application money:-

1.       Can be accepted only through proper banking channel but not in cash.
2.       Allotment should be completed within 60 days otherwise refunded within 75 days, otherwise interest @ 12 % to be paid
3.       Share Application money to be kept In separate bank account either for allotment or repayment, thus cannot be used for business purpose
4.       Minimum Share application size of Rs 20000/- per person.
5.       Several stringent restriction/ processes are also there.

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