Change in the subcription of moa

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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)

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...

Querist : Anonymous

Querist : Anonymous (Querist)

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

Jatin Agrawal

Jatin Agrawal (Expert)

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 ;)