Share Capital & Loan Amount given vide single cheque
This query is : Open
25 April 2020
Dear Sir/Madam,
This query is regarding "Subscriber's proof of payment for value of shares" to be attached in INC-20A. The problem is subscriber has given share capital amount & loan amount together vide a single cheque payment.
So, the bank statement entry is not matching with share capital but it is more than share capital.
Is this allowed under the Companies Act, 2013?
Can this be problem?
Regards,
Dinesh Dubariya
This query is regarding "Subscriber's proof of payment for value of shares" to be attached in INC-20A. The problem is subscriber has given share capital amount & loan amount together vide a single cheque payment.
So, the bank statement entry is not matching with share capital but it is more than share capital.
Is this allowed under the Companies Act, 2013?
Can this be problem?
Regards,
Dinesh Dubariya
28 April 2020
Subscription to share capital is to be credited to a separate bank account
29 April 2020
It's a small private limited company.
Can you please explain me the ideal process, how it should have been done?
Can you please explain me the ideal process, how it should have been done?
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