Subscription of share
This query is : Resolved
10 January 2012
Is it necessary for the subscribers of Memorandum of Association to apply for the shares and take the shares?
Is it mandatory for the company to allot shares firstly to such subscribers?
Is it mandatory for the company to allot shares firstly to such subscribers?
10 January 2012
Subscribers of MOA are deemed shareholders of the company. They have agreed to take the shares in the company in the number written in the memorandum. They don't required to apply for the shares.
The company must allot the shares to the subscriber first.
The company must allot the shares to the subscriber first.
10 January 2012
If company desires then u can make the allotment to others though it is first allotment after incorporation.
10 January 2012
read section 81 and 81(1A) for more clarification.
Guest
Guest
(Expert)
10 January 2012
Yes Iti, subscriber are necessarily required to take shares.
Yes, Its mandatory for company to allot shares to subscribers first.
Yes, Its mandatory for company to allot shares to subscribers first.
11 January 2012
As per my view
Subscribers have already taken the shares subscribed by them during incorporation.
Now the question relates to First Allotment after incorporation, And here Subscribers do not need to apply and take shares compulsorily, company if so desires can allot the shares to others.
Subscribers have already taken the shares subscribed by them during incorporation.
Now the question relates to First Allotment after incorporation, And here Subscribers do not need to apply and take shares compulsorily, company if so desires can allot the shares to others.
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