law: Companies Act, 1956
  Sec 113    -    
  
  Limitation of time for issue of certificates. 
  (1) Every company, unless prohibited by any
  
  provision of law or of any order of any court, tribunal or other authority,
  
  shall, within three months after the allotment of any of its shares, debentures
  
  or debenture stock, and within two months after the application for the
  
  registration of the transfer of any such shares, debentures or debenture stock,
  
  deliver, in accordance with the procedure laid down in section 53, the
  
  certificates of all shares, debentures and certificates of debenture stocks
  
  allotted or transferred :
  Provided  that the Company Law Board may, on an
  
  application being made to it in this behalf by the company, extend any of the
  
  periods within which the certificates of all debentures and debenture stocks
  
  allotted or transferred shall be delivered under this sub-section, to a further
  
  period not exceeding nine months, if it is satisfied that it is not possible
  
  for the company to deliver such certificates within the said periods.
  The expression " transfer ", for the
  
  purposes of this sub-section, means a transfer duly stamped and otherwise
  
  valid, and does not include any transfer which the company is for any reason
  
  entitled to refuse to register and does not register.
  (2) If default is made in complying with
  
  sub-section (1), the company, and every officer of the company who is in
  
  default, shall be punishable with fine which may extend to five thousand rupees
  
  for every day during which the default continues.
  (3) If any company on which a notice has been
  
  served requiring it to make good any default in complying with the provisions
  
  of sub-section (1), fails to make good the default within ten days after the
  
  service of the notice, the Company Law Board may, on the application of the
  
  person entitled to have the certificates or the debentures delivered to him,
  
  make an order directing the company and any officer of the company to make good
  
  the default within such time as may be specified in the order ; and any such
  
  order may provide that all costs of and incidental to the application shall be
  
  borne by the company or by any officer of the company responsible for the
  
  default.
  (4) Notwithstanding anything contained in
  
  sub-section (1), where the securities are dealt with in a depository, the
  
  company shall intimate the details of allotment of securities to depository
  
  immediately on allotment of such securities