Company Formation
This query is : Resolved
17 February 2011
Dear all,
A private limited company has to be incorporated in the state of Maharashtra within the jurisdiction of ROC MUMBAI. the applicant will be the director in the said comapny but would not subscribe for any shares. is it necessary for the applicant to subscribe for the shares?
A private limited company has to be incorporated in the state of Maharashtra within the jurisdiction of ROC MUMBAI. the applicant will be the director in the said comapny but would not subscribe for any shares. is it necessary for the applicant to subscribe for the shares?
17 February 2011
No...it is not necessary for the applicant to subscribe for the shares of the Company in order to be appointed as Director of that Company.
In case the Articles are silent as to who will be the First Directors of the Company,Subscribers to the MOA of the Company are deemed to be the first Directors of the Company who shall hold the office till the date of the first AGM of the Company.
So, if the AOA of ur Company mentions the name of first Directors, no need to subscribe to the shares of the Company to be appointed as Director of the Company.
In case the Articles are silent as to who will be the First Directors of the Company,Subscribers to the MOA of the Company are deemed to be the first Directors of the Company who shall hold the office till the date of the first AGM of the Company.
So, if the AOA of ur Company mentions the name of first Directors, no need to subscribe to the shares of the Company to be appointed as Director of the Company.
17 February 2011
My query was if a person is applicant for Form 1A need to subscribe for shares in the company?
The new guidilines posted on MCA website states that the applicant shoud be a promoter .
The new guidilines posted on MCA website states that the applicant shoud be a promoter .
17 February 2011
Does that mean a Promoter has to subscribed to the shares in the Company?
17 February 2011
that is only my query . .
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
