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    Regarding Treatment of Right Issue Related Matters

    Posted By : Sachin / Published on : 21-Dec-2021 01:40 PM / View : 593 / Comment : 0

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    Hell Everyone,

    Here is the situation -

    1. Company has issued shares through right issue and they have passed a resolution for that as well & Form PAS- 3 through back date has been filed with late fees. (Date of allotment - 30th March 2021).

    2. Above allotment has been done in order to be eligible to get a loan from the bank.

    3. However, application money has been received after 4 months of allotment.

    4. So the question is how it can be shown in a balance sheet or eventually its treatment.

    5. However, there was an option earlier that allotment be done to set off the borrowing of directors but resolution has already been filed for Right issue against the money. So, this can't be done now.

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