Companies to allot Shares before 1st June, 2015 for pending allotments

Companies need to Allot pending share allotments as on 31st March, 2015 within 1st June, 2015 or refund the allotments or may comply with  Companies (Acceptance of Deposits) Amendment Rules, 2015.

“Provided that unless otherwise required under the Companies Act, 1956 (l of 1956) or the Securities and Exchange Board of India A ct, 1992 (15 of 1992) or rules or regulations made there under to allot any share, stock, bond, or debenture within a specified period, if a company receives .my amount by way of subscriptions to any shares, stock, bonds or debentures before the ls’April,2014 and disclosed in the balance sheet for the financial year ending on or before the 31st March,2014 against which the allotment is pending on the 31st March,2015, the company shall, by the ls’June 2015, either return such amounts to the persons from whom these were received or allot shares, stock, bonds or debentures or comply with Companies (Acceptance of Deposits) Amendment Rules, 2015.

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