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All money received with the application of shares are to be deposited

Under Section 40(3) of the Companies Act, 2013, all application money received from applicants for shares must be kept in a separate bank account in a scheduled bank until…

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All money received with the application of shares are to be deposited

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Under Section 40(3) of the Companies Act, 2013, all application money received from applicants for shares must be kept in a separate bank account in a scheduled bank until the shares are allotted or money is refunded.

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