Subscription money


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Querist : Anonymous

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Querist : Anonymous (Querist)
27 October 2015 what is time limit of receive subscription money by private limited company?
please if know give applicable section also

27 October 2015 There is no provision which directly talks about time limit for subscription money.
However, Section 56(4)(a) makes it mandatory for a company to issue share certificates within 2 months from the date of incorporation. The Company can not issue share certificates without receiving money.

Hence, based on this section, the company should receive subscription money within 2 months from the date of incorporation.

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Querist : Anonymous

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30 October 2015 THANKS MR. PRATIK SHAH


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