Hemraj Sethia (CA) (38 Points)
05 June 2008Dear Members
Following are the facts for a newly incorporated P Ltd company
Date of Incorporation: 21 Apr 2008
Issue of Shares: 15 May 2008
The company has been formed as a subsidiary of an existing P Ltd Co with only two members/shareholders and started operations on Working Capital of holding company. How much money is compulsory to be received by the new company before /on allotment of shares. Please specify is application money is not compulsory.
Please help!
Mohit Garg
(CS)
(178 Points)
Replied 05 June 2008
Dear,
Please tell me the detail of subs. clause in ur MOA.
Issue shares to the Subs. as per MOA and receive full money on those shares from the subscribers and after that issue shares to them.
Hope it will serve ur purpose.
if need any further clarification mail me at mohitgargcs @ gmail.com
DEEPAK KUMAR TIBREWALA
(profession)
(101 Points)
Replied 06 June 2008
PLEASE Issue shares to the Subs. as per MOA and receive full money on those shares from the subscribers and after that issue shares to them. Any money recd ther after will be consisered as shareapplication but before allotment
CAclubindia
