If in a company's balance sheet as on 31/03/2013 & 31/03/2014 money is reflected under the head Current Liabilities as share application money due for refund. The money which is reflected in balance sheet is through fdi
Neither the company has allotted the shares nor has refunded the money, as per the companies act 2013 it will be categorized as deposits. The company hasn’t filed DPT-4 and hasn’t repaid the same till june 2015. Fema compliance are under process.
Kindly let me know the process to comply with Companies act 2013.
