Shares

Vivek (Querist) 26 November 2014 This query is : Resolved
Co accepts money but fails to issue shares agst it ?

What is remedy available in law ?

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Shailesh Kr. Shah (Expert) 26 November 2014
so, issue now.

Devajyoti Barman (Expert) 26 November 2014
be more descriptive.

Guest (Expert) 26 November 2014
Then the Money would be Returned after some time limit given to them..

Rajendra K Goyal (Expert) 26 November 2014
Send legal notice.

Kuummaar AS (Expert) 26 November 2014
In case shares are not allotted within 60 days against the amount received towards shares, the money received has to be refunded within 15 days from the date of completion of 60 days and in case the amount is not refunded, the same is to be treated as Deposits. There are other provisions also.

Dear Vivek, give full details of your case for proper reply.

Vivek (Querist) 27 November 2014
Invested towards Eq Share capital in Co in 2010... Promoter failed to issue shares till date.. What options do i have in law ?

Guest (Expert) 27 November 2014
File a Complaint to SEBI First marking copy to the company in detail.

Vivek (Querist) 27 November 2014
IT IS A PVT LTD CO.

Guest (Expert) 27 November 2014
Mark a Complaint to R.O.C. Consult a Local Good Advocate.

Vivek (Querist) 27 November 2014
thanks all

V R SHROFF (Expert) 27 November 2014
Complaint to Registrar of Company, with a copy to Company..

Kuummaar AS (Expert) 27 November 2014

Are these only details?

Invested towards Eq Share capital in Co in 2010... Promoter failed to issue shares till date.. What options do i have in law ?

Advocate Bhartesh goyal (Expert) 27 November 2014
Company either Pvt Ltd or Ltd if received the money from investors for allotment of its shares,neither allot the shares nor refund the money within time limit is guilty of offence u/sec 113 & 116 of Companies Act.A complaint may be initiate against company and it's directors before Company law Board.

ABDUL RAZIQUE (Expert) 29 November 2014
Well advised by B Goyal sir,

T. Kalaiselvan, Advocate (Expert) 01 December 2014
The action suggested by expert Mr. Goyal may be followed. If it is a listed company, you may move an application against the company with SEBI too.

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