Regarding companies act

Kindly guide

A company has given share application money to another company but has not issued share for the same.Now the company after one year issues the share against application money.The other company has not taken interest for the same Kindly elaborate it

In your case I think the share application money since has not been repaid to the payee, general rules and notification may apply which ministry of corporate affairs releases from time to time.  I think that the allotment of shares shall be done within sixty days from payment but since there is no claim from other party your case seems plausible and you shall consult from www.lawkonect.com, this is a great website they helped me through my case and followed up themselves by call, the services provide by them are excellent and they also provided  me full package to get through documentation proceedings in nearly all legal fields for my business.