Opening a separate bank a/c for allotment of shares by pvt.

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Rajeshree Desai (Querist)
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14 April 2015 Whether a private company is required to open a separate bank account as mentioned under provisions of section 42 of the CA, 2013? We can show the allotment within 2 days of receiving application money, but still a company has to go through the procedure of opening a bank A/c? Company cannot use its existing bank account just for the procedure of 2 days?
Kindly also consider urgency of the event.

Arpit Shah

Arpit Shah (Expert)
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15 April 2015 https://www.caclubindia.com/articles/allotment-of-equity-shares-as-per-companies-act-2013-22150.asp#.VS3rUunqlxA

Arpit Shah

Arpit Shah (Expert)
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15 April 2015 https://www.caclubindia.com/articles/allotment-of-equity-shares-as-per-companies-act-2013-22150.asp#.VS3rUunqlxA

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Opening a separate bank a/c for allotment of shares by pvt.

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