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issue of share capital

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(Querist)
18 July 2011 in what time Ist share capital is to issued while incorporating private company. Mode of receiving payments in respect of those shares?
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RG - A Helping Hand

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RG - A Helping Hand (Expert)
23 July 2011 It is very simple. After receiving incorporation certificate from ROC pass a resolution in the first board meeting for opening a bank account of company.

After opening bank account deposit Rs. 1 Lakh as min paid up capital and make nevessary accounting entry in the books of accounts.

Also issue share certificate to the first subscribers of shares.
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himanshu gupta

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himanshu gupta (Querist)
24 July 2011 but there is a case in which co. incorporated last year (in NOV.)but not recd any cheques for issue of share capital. cheques are recd in next year. now what to do?
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