CA Inter P2 · Chapter 4 · Question 11 of 11
Under section 56(4), unless prohibited by any law or court order, every company must deliver the certificates in respect of debentures allotted within:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Six months from the date of allotment
Explanation
Section 56(4) sets the time limits for delivering certificates. For subscribers to the memorandum it is two months from incorporation. For any allotment of shares it is two months from allotment. For a transfer or transmission it is one month from receipt of the instrument of transfer or intimation. For debentures it is six months from allotment.
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