A company sent the documents to ROC for incorporation on 5 April and the certificate was issued on 9 April. however by mistake, ROC put the date of incorporation on the certificate 5 April.
Meanwhile company issued some shares on 7 April. Is the issue valid or not? Can it be challenged?
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Important Question - Section 7
Replies (1)
Date of incorporation - 5 april
issue of certificate - 9 april
issue of shares by the company on 7 april is VALID, because the company came into experience on 5th april.
date of incorporation is important,date of issue of certificate is not important.
Refer section 9 and (Jubilee cotton Mills v. Lewis case).
AND
it cannot be challenged, because certificate of incorporation is "Conclusive Evidence"
issue of certificate - 9 april
issue of shares by the company on 7 april is VALID, because the company came into experience on 5th april.
date of incorporation is important,date of issue of certificate is not important.
Refer section 9 and (Jubilee cotton Mills v. Lewis case).
AND
it cannot be challenged, because certificate of incorporation is "Conclusive Evidence"
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