Share capital

This query is : Resolved

kalpesh kochar (Querist)
Follow

08 June 2013 Hello,

A company is incorporated in June 2011 with a issued of share capital of Rs 100000/-, but the same is been received in the month of Dec 2012.
So whether it is been allowed as per the companies act???

Ajay Mishra

Ajay Mishra (Expert)
Follow

14 June 2013 Hi

Yes, it is allowed.

In accordance with the provisions of section 36(2) of the Companies Act, 1956, all money payable by any member to the company under the MOA or AOA shall be debt due from him to the company. Further, a subscriber to the memorandum must pay for his shares in cash even if the promoters have promised him the shares for services rendered in connection with the promotion of the company.

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

bhavesh

Srikanthan S

rana andcompany

Pranab Banerjee

Gurunathan kannan

Subscribe Now

Share capital

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

Senior Executive

CA Final

GST CONSULTANCY

Manager- Finance and Compliance