Issue of share certificate by a private co.

Save Share

This query is : Resolved

Guest

Guest (Querist)

18 August 2009 Esteemed experts pls answer this:

A private co is incorporated in india having 3 foreign directors and 2 foreign co's as shareholder.
Company was incorporated in the month of april 2009.
Such indian co has not till date issued any share cert to those subscriber foreign co's till date.
Now in the month of august 2009 such foreign directors came in india.

My query is :

Can we now issue share certs to those subscribers after a gap of 4.5 months since incorporation of the company?

is there any contravention of issue of share cert rules because rules specifies issue of share cert within 90 days of allotment.

Moreeover we cant allot share cert outside india because we cant move common seal out of india and issue of share cert is not valid without common seal.

Also mention what will be the date coming on the share cert :

1. is that the date of allotment OR

2. is that the date of signing of share cert by director and autho signatory OR

3. is that the date of incorporation of the company OR

4. is that the date on which directors are authorised to sign the share cert vide board resolution.

Best Regards

NEHA JAIN

Guest

Guest (Expert)

05 October 2009 date of share certificate will be Incorporation date.

There is no requirement for person to be present at the time of issue of shares, So, you can issue share certificate of back dated.

(2) Date of signing share certificate would be Incorpn date.

(4)date of incorporation authorises to sign the share certificate.

If you do not want to come under legal problems, then issue share certificate of back date

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now