Share application money receivable
This query is : Resolved
23 May 2017
i would like to know if there is any time limit on receipt of share application money from subscribers, as in, any max. time period within which subscribers must pay share app.money once Co. is incorporated??
kindly advise.
CS Mitesh Mehta
(Expert)
24 May 2017
Yes. Company shall issue Share Certificates to the subscribers of Memorandum within 2 (two) months from the date of company incorporation. Please ensure that Share subscription money is received before issuing Share certificates through proper banking channel.
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