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Subscribers to MOA

This query is : Resolved 
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(Querist)
06 September 2008 What happen if a subscriber to MOA denies to accepts the shares of the company. Please help me

Whether he is disqualifed for being a director in the company?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
06 September 2008 Upon signing of MOA, the subscriber has already committed to subscribe. If he refuse to subscribe after signing the MOA, suit for recovery can be initiated against him.

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