Questions ArchiveCategory: Companies Act, 2013I have registered a new private limited company and incorporation certificate dated on Sep 2015. Is it mandatory that I have to do bank deposit of Rs.1 Lakh before 6 months from date of incorporation (ie. before March 2016) ? What is the maximum time limit for making bank deposit of Rs. 1 Lakh to my company account ?
Anonymous asked 5 years ago

I have registered a new private limited company and received the incorporation certificate dated on 25-Sep 2015.
My authorized share capital is Rs. 1 Lakh as per AOA.
Is it mandatory that I have to do bank deposit of Rs.1 Lakh before 6 months from date of incorporation (ie. before March 2016) ? 
Is there any amendment made so that there is no time limit for such bank deposit ? (or)
What is the maximum time limit for making bank deposit of Rs. 1 Lakh to my company account ?

admin Staff replied 5 years ago

One should open Bank Account and the share subscriber should deposit the amount in company’s bank account asap. Though the amount can be withdrawn from company’s account whenever required and can be kept as cash in hand for incurring company’s expenses.