Delay in issue of share certificates to subscribers to MOA

    Posted By : CS Gaurav / Published on : 23-May-2018 01:44 AM / View : 422 / Comment : 0
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    Dear Members, Please reply on the following query: Our client company is a wholly owned subsidiary of foreign company and the parent company had delayed in sending initial share capital company because bank account of Indian Company could not open within 2 months and because of that Indian Company is in default of Sec 56 of Companies Act, 2013 to issue share certificates within 2 months of date of incorporation. Now, please reply that what is remedy in this case since the bank account of wholly owned subsidiary companies cannot open within 2 months because bank takes time for verification and opening of bank accounts. Please reply as soon as possible
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