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
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.
CAclubindia
