one of my friend who is director of XYZ pvt ltd want to become a member/shareholer of the proposed company.
But he want that shares should be in the name of the company i.e. he want that his company should become the member/shareholder.
My question: In FORM !A & Form 1 and subscribers page of MOA we are required to write name/address and sigature of the subscribers. whose name would appear in the subscribers page eithe XYZ ltd or my friend on behalf of the company ?
03 August 2012
A corporate can be subscriber to MOA.
Corporate Subscriber: A company being an artificial and legal person may be a subscriber to the Memorandum and Articles of Association. In order to subscribe for the Memorandum and Articles of Association, the Board of directors of the company shall by resolution under section 292(1)(d) authorise a person as its attorney to sign the various documents for and on behalf of the company. The Board shall also authorise for execution of a Power of Attorney in favour of the said person. Since it is required for every subscriber having a share capital to take at least one share, therefore it should be mentioned in the resolution of the Board that how many shares the company proposes to take. Provisions of section 372A shall also be considered.
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