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Share certificate

Ravi Kumar Somani (Indirect Taxes Specialization) (3893 Points)

22 April 2016

can anyone provide the format of share certificate in case of allotment of shares pursuant to scheme of amalgamation?

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csmedha (Company Secretary) (91 Points)
Replied 22 April 2016

It is same as SH-1, only if transfer is made, SH-4 for transfer deed to be executed along with required amount stamp.

Regards,

CS Medha Bhargava

www.secretarialservices.in

CS Arjun Rajagopal (B.com, ACS) (1056 Points)
Replied 23 April 2016

Originally posted by : Ravi Kumar Somani
	can anyone provide the format of share certificate in case of allotment of shares pursuant to scheme of amalgamation?

Please find attached the format

Attached File : 639608 20160423203123 sh 1 share certificate.doc downloaded: 147 times

csmedha (Company Secretary) (91 Points)
Replied 25 April 2016

Hi Arjun,

Can you further confirm, what shall be the date in SH-1 in case of shares issued after incorporation?

CS Arjun Rajagopal (B.com, ACS) (1056 Points)
Replied 25 April 2016

date of first board meeting

Pratik Shah (Practising Company Secretary) (4432 Points)
Replied 25 April 2016

It is not necessary that the date shall be the first board meeting. Companies Act allows a Company to issue Share Certificate within 60 days from the date of Incorporation. So, it is possible that Company may have more than 2 board meetings and may issue Share Certificate in 2nd Board meeting.

Ensure to issue Share Certificate only after the Company receives the subscripttion amount.

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csmedha (Company Secretary) (91 Points)
Replied 25 April 2016

Thanks Partik, I agree with your views.

Further, also confirm in case of incorporation, can subscripttion money be received in cash and the same cash can be deposited once the account is open?

This I have question, because sometimes the bank takes time to open account. Further if account is opened near about to close of 60 days period, the cheque issued by directors takes time to clear.

So can we deposit cash once account is open to comply with the provisions of the act?

For your professional views please...

Pratik Shah (Practising Company Secretary) (4432 Points)
Replied 25 April 2016

The Companies Act is silent on this part. People are having different views on this point.

No provision is restricting company to accept Subscribers Amount in cash. As per this, you can deposit the money in the Bank Account. However, I personally always advise my clients to deposit cheque instead of cash. I will ask them to deposit cash only when it is urgently required to comply with 60 days.

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