Subscription money
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 October 2015
what is time limit of receive subscription money by private limited company?
please if know give applicable section also
please if know give applicable section also
27 October 2015
There is no provision which directly talks about time limit for subscription money.
However, Section 56(4)(a) makes it mandatory for a company to issue share certificates within 2 months from the date of incorporation. The Company can not issue share certificates without receiving money.
Hence, based on this section, the company should receive subscription money within 2 months from the date of incorporation.
However, Section 56(4)(a) makes it mandatory for a company to issue share certificates within 2 months from the date of incorporation. The Company can not issue share certificates without receiving money.
Hence, based on this section, the company should receive subscription money within 2 months from the date of incorporation.
Querist : Anonymous
Querist :
Anonymous
(Querist)
30 October 2015
THANKS MR. PRATIK SHAH
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