12 January 2016
Dear Sir/Mam, please clarify us that whether an Indian Company is required to deliver Share/Debentures Certificate to Non-Resident or is there any restriction.
12 January 2016
As per Companies Act, 2013 it is duty of the Company to
TIME PERIOD FOR ISSUE OF SHARE CERTIFICATES: In case of Incorporation: With in a period of 2 (Two) Months from the date of Incorporation to the subscriber of Memorandum. In case of Allotment: With in a period of 2 (Two) Month from the date of allotment of shares. REQUIREMENT FOR ISSUE OF SHARE CERTIFICATE: There should be an allotment or Subscription at the time of Incorporation. A Board resolution should be passed in the Board Meeting for issue of Certificate. (Share Certificate can be issued only under authority of Board of Directors by a Board Resolution.) Share Certificate shall specify the matter mention in above. Share Certificate should be issue under the signature of Two Director or by a Director and Company Secretary (If any).
CAclubindia
