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Time limit for paid subscription money

This query is : Resolved 
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(Querist)
19 June 2015 Within what time shall subscribers of MOA pay his subscription amount on shares to the company??? under the companies act 2013,after the amendment act 2015?
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Pratik Shah

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Pratik Shah (Expert)
01 July 2015 There is no provision in Companies act 2013 which directly ask a company to get subscription money within specified dates.
But as per Section 56(4) Companies Act, 2013, the share certificates shall be issued within 60 days. and share certificates shall be issued only when the subscription amount has been received by the Company.

Hence, the Company should receive subscription money within 60 days from the date of incorporation
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