(iv)the shares to be issued at a discount are issued within two months after the date on which the issue is sanctioned by the [Central Government] [Substituted by Act 11 of 2003, Section 12, for " Company Law Board" . ], or within such extended time as the [Central Government] [Substituted by Act 11 of 2003, Section 12, for " Company Law Board" . ] may allow.