Share Application Money

Naresh (Querist) 09 January 2010 This query is : Resolved
Can a Pvt. Ltd. Company accept and refund back share application money from a person who is neither a member , director nor a relative of a director?

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A V Vishal (Expert) 09 January 2010
No, The Companies Act prohibits issue of shares to public by a Private Limited Company.

Raj Kumar Makkad (Expert) 10 January 2010
No. Not at all.

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