20 July 2015
1. the amount should have been deposited within 2 months from the date of incorporation, because the company is required to issue Share Certificates to subscribers within 2 month and as you know, without receiving money, company can not issue share certificate.
2. if it is still not deposited, the company is in contravention of section 56(4) and the company is liable to punishable as per section 56(6). Plz read it once.
CAclubindia
