Issue of Share Certificate as per Companies Act 2013
Applicable Provisions:
Section 46 (issue of share certificates) and sub-section (4) of section 56 (relating transfer and transmission of securities) read with Rule 5 of Companies (Share capital and debentures) Rules, 2014.
The time period of issuing a share certificate (Section 56 (2))
- A subscriber to the memorandum:- 2 months from the date of incorporation
- Allotment of any of its share:- 2 months from the date of allotment
- Transfer or Transmission of share:- 1 month from the date of receipt of the instrument Allotment of debenture:- 6 months from the date of allotment
Penalty:
| PARTICULARS | PENALTY |
| Company | 25,000 Rs but which may extend to 5,00,000 Rs |
| Officer | 10,000 Rs but which may extend to 1,00,000 Rs |
