- In case of allotment, within 3 months of the allotment.
- In case of transfer, within 2 months.
In both the above cases the time limit can be increased to up to 9 months by get it sanctioned from the Company Law Board.
If still certificate is not issued within 9 months then the allottee may lodge a complain to the Company Law Board. Then Company Law Board gives a notice to the company for getting the allotment done within 10 days of the notice. If it is not done then the company is at default and a penalty of Rs. 5,000 per day is charged till the default continues.