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Regarding share capital
A company formed on 21 st dec 2016 with 3 directors same as shareholders also with a share capital of 100000 each.But one of the CA said that the above persons have contributed the share capital through his bank account with in 6 months. 1).my query is it compulsory to contribute the capital through bank account with in 6 months?
2).or any resolution is only needed for the same?
3) Is it any alternative?
4). what are consequences if the above is violated?
Replies (3)
Kindly give the guidance for the above
Mandatory to transfer capital account. I think as now it is 60 days time limit to deposit. If fail to deposit you should show reasons for that.
Thank you for the concern.Some others has different views they said that it should be with in 6 months.
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