Issue of shares to subscribers of moa.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2016
A company was incorporated on 03/10/2016 with 5 persons being subscribers.
-What is the time limit for deposit of share money in company's bank A/c?
-Is it not necessary to issue share certificates? My CA advised not to issue since it is a family owned company.
-What is the time limit for deposit of share money in company's bank A/c?
-Is it not necessary to issue share certificates? My CA advised not to issue since it is a family owned company.
23 December 2016
1. Maximum 180 days from the date of incorporation. Inference - corollary to section 248(1)(b).
2. Share certificate is to be necessarily issued.
2. Share certificate is to be necessarily issued.
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 December 2016
Is the time limit not 60days from incorporation?
Whether it can be received in cash? And in parts?
Whether it can be received in cash? And in parts?
06 January 2017
60 days is the date of delivering shares certificates by the company to the subscriber. Section 248 is enforced now and hence agree with Sir
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