Corporate Laws - Mention of date in Share Certificate
Guest
(Querist) 23 December 2009
This query is : Resolved
ABC Private Limited was incorporated on 03.08.09.
Equity Subscription amount was collected from one subscriber on 05.10.09 and another subscriber on 11.11.09.
Now, what date should I mention in the Share Certificate to be issued for the subscribers to MOA.
I shall await experts' views with relevant rules / provisions.
(I need to have clarity, as I have been refused to put the date of incorporation in the SC for subscribers to MOA).
RAVI ARORA
(Expert) 16 January 2010
for date of allotment u will have to take any date after 11.11.09 . without proper consideration having been received u cannot allot shares . the date of incorporation cannot be the date for allotment of share certificate as after the subscribers sign the MOA they immediately become liable to pay for the subscribed shares. But allotment can be done only after receipt of money by holding a Board meeting and making allotment.
