OBTAINING CERTIFICATE OF COMMENCEMENT

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Pratibha (Querist)
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06 November 2008 pls clarify that whether the amount mentioned in agreement as initial issued, called up , subscribed & paid up capital has to be actually paid in full before getting the certificate of incorporation?
what are the provisions for this in companies act, 1956, whether part amount of it can be taken?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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06 November 2008 The provisions of Companies Act are Section 149. See subsection (1) in particular.

Taxguy

Taxguy (Expert)
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06 November 2008 Hope it is not a private company. Only public limited company requires this.

Pratibha

Pratibha (Querist)
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06 November 2008 yes sir,
it is a public company, but not going for public issue, & I am facing difficuly to fill the form 20 prusuant to Section 149(2)(b) of the companies act, 1956 whereby there is one field as given below :

i. that the amount of the share capital of the company subject to the payment of the whole amount thereof in cash is Rs.....
iii. that shares held subject to the payment of the whole amount thereof in cash have been allotted to the amount of Rs.......
Pls clarify that what amt. here will be given,
as company has not actually received the any share capital, but just mentioned in Agreement that the initial issued, subscribed,called up and paid up share capital shall be Rs.20 crores,
but in the MOA & AOA where in the last page subscribers have to give their details of shares subscirbed whereby it is only Rs.12 crores,
then in form which amount shall be taken?

Pratibha

Pratibha (Querist)
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06 November 2008 yes sir,
it is a public company, but not going for public issue, & I am facing difficuly to fill the form 20 prusuant to Section 149(2)(b) of the companies act, 1956 whereby there are the following fields:

i. that the amount of the share capital of the company subject to the payment of the whole amount thereof in cash is Rs.....
iii. that shares held subject to the payment of the whole amount thereof in cash have been allotted to the amount of Rs.......
Pls clarify that what amt. here will be given,
as company has not actually received the any share capital, but just mentioned in Agreement that the initial issued, subscribed,called up and paid up share capital shall be Rs.20 crores,
but in the MOA & AOA where in the last page subscribers have to give their details of shares subscirbed whereby it is only Rs.12 crores,
then in form which amount shall be taken?

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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07 November 2008 You have to give the amount of share capital which has been issued only for cash and whether they have all been allotted.

Pratibha

Pratibha (Querist)
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07 November 2008 sir,

actually till now nothing is received and allotted,

but only mentioned in MOA & AOA 1 share of Rs.10/each subscribed by the 5 directors and balance amount out of 12 crores taken by the holding company and other co partner company.

Pratibha

Pratibha (Querist)
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