Subscription money

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Querist : Anonymous

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

Pratik Shah

Pratik Shah (Expert)
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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.

Querist : Anonymous

Querist : Anonymous (Querist)

30 October 2015 THANKS MR. PRATIK SHAH

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