allotment of shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 February 2011 1. Subscribers of MOA & AOA are directors?
2. Whether it is compulsory to Subscribe/allot shares to the subscribers of MOA or AOA of pvt ltd company? Directors are not required to subscribe qualification shares as per AOA.

CS Taher

CS Taher (Expert)
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10 February 2011 1.Not mandatory for first Subscriber of MOA & AOA to be Directors.
2. Yes MAndatory to allot shares to subscibers becaz they are the first shareholders & promoters of the Company.
3. If share qualification clause is mentioned in Article then Director need to hold qualification shares within 2months of appointment otherwise not required to hold qualification shares.