Change in the subcription of moa

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2012 Dear Sir,

Can the name of the individual/s in the subscription of MoA be replaced by the name of a Company. How is to be done.

Jatin Agrawal

Jatin Agrawal (Expert)
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04 February 2012 please clarify, is the company formed? are u intending to change the promoters? the question is too vague...please provide some details

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2012 The Company has been incorporated and 4 different people are its promoter but share certificates have not been issued.
Now we want that in the place of these 4 individual two companies be made as promoters in the new company. How can this be done...

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Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2012 Is there any legal prohibition with regard to it..

Jatin Agrawal

Jatin Agrawal (Expert)
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05 February 2012 you'll have to transfer the shares via the normal procedures...since the company has been formed the ini9tial 4 subscribers have become d shareholders...now these 4 will have to transfer the shares to the 2 companies.

no there is no legal prohibition.

common sense approach is generally a promoter is a person who has promoted/floated the co.

since the company is already afloat...others cannot be promoters.......though in another sense since they are holding the majority shareholding...they are still promoting the co ;)