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--As per 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. **Time period of issue a share certificate (Section 56 (2))** 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: 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

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