time limit for allotment of shares to Subscriber of MoA

This query is : Resolved

deepak (Querist)
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24 October 2008 Respected Sir,

with in what time after the incorporation of company the shares to be alloted to the subscriber to MoA and AoA.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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24 October 2008 THere is no separate allotment to the subscribers. By virtue of being signatories to MOA they are already shareholders. You have to only issue certificate as a formality.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 October 2008 Fully agree with the above view.

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CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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25 October 2008 As and when the company is incorporated the share application money towards the shares undertaken at the time of subscription to the MOA should flow to the company and shares issued in reasonable time.