01 November 2008
See there is a difference between Subscribed shares and alloted shares.
Shares are subscribed when company comes into existence and for this you give detail of subscription to MOA in Form 1.
Shares are alloted only after a company comes into existence and are alloted by filing Form 2 in which a sheet containing detail of allotees, no. of shares to be alloted and percentage of total paid up share capital is attached which is duly attested by some gazetted officer.
03 November 2008
THere is no need to make a separate allotment for subscribers to MOA. It is enough if money is collected from subscibers them and share certificates issued through a resolution of Board. No form 2 is required for such shares as they are already allotted while registering the company.
03 November 2008
IF One of the subscriber has not paid the money of subscribed shares,and other new person want to enter as director with shares. in such case what will be procedure ?
CAclubindia
