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.