Dear Friends
I have a query, based on following facts:
A private limited company incorporated on 19.02.2020 with two subscribers and Rs.1 Lakh Paid up Share Capital. It applied for bank account but due to lockdown situation, account was opened only by 11.04.2020. Out of two subscribers, one paid subscription money by cheque dated 02.03.2020 and another by cash.
Now query is:
1. Can the company issue share certificates before 31.03.2020 based on receipt of cheque and cash?
2. If company issues share certificates only after opening of bank account and credit of cheque, what it will show in its paid up share capital as on 31.03.2020.
certificatessubscribers
share
issue
