Account Opening at Incorporation

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Sheetal (Querist)
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29 April 2011 Hi,

I hv formed a new co. Within 1 month i hv to hold Board Meeting. But due to some difficulties bank account is not opened within a month of incorporation. Now we have to show in Board minutes that we have received money for allotment of shares to promoters and bank account still not opened.
Can I show in minutes dat I hv received money in cash from shareholders? What are the alternatives for this situation

Please Guide.......

udit sharma

udit sharma (Expert)
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29 April 2011 In my opinion, u can ask the promoters to give a Cheque in respect of the shares subscribed by them. The Cheque received may be deposited as and when the Bank Account is opened in the name of the Company.

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