issue of share capital

This query is : Resolved

himanshu gupta (Querist)
Follow

18 July 2011 in what time Ist share capital is to issued while incorporating private company. Mode of receiving payments in respect of those shares?

RG - A Helping Hand

RG - A Helping Hand (Expert)
Follow

23 July 2011 It is very simple. After receiving incorporation certificate from ROC pass a resolution in the first board meeting for opening a bank account of company.

After opening bank account deposit Rs. 1 Lakh as min paid up capital and make nevessary accounting entry in the books of accounts.

Also issue share certificate to the first subscribers of shares.

himanshu gupta

himanshu gupta (Querist)
Follow

24 July 2011 but there is a case in which co. incorporated last year (in NOV.)but not recd any cheques for issue of share capital. cheques are recd in next year. now what to do?

Upgrade to CAclubindia Pro. Subscribe Now!