Now say, in place of a private limited co., its a closely-held public limited company. The company increases its Authorized Share Capital and immediately proceeds to accept application for allotment of further shares, which is beyond its existing Autho... Capital. It is yet to file form 23 and form 5. My questions are:- 1) Whether the company is lawfully right to accept applications for allotment of further shares without passing resolution in a general meeting under Sec 81(1A)? 2) How long can the application money be kept on hold before making allotment? 3) Whether a "statement in lieu of prospectus" would be required to be filed with the ROC, before making allotment? FRIENDS PLEASE RESPOND. THANKS!