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.
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?
CAclubindia
