11 March 2010
Hi If one of the promoters named in Form 1A is not willing to subscribe the Memorandum then he should give a No Objection Certificate to other promoters. Other promoters can include somebody else as new promoter and proceed to incorporation. The NOC given by the out going promoter shall be countersigned by a professional (CS/CA who witnesses the MOA) and the NOC shall be scanned and attached with Form 1 (This is the procedure adopted in Kerala ROC and may change in other States)