Is the requirement of Minimum of 7 Subscribers to MOA applicable to goverment company's? or is President of India the only subscriber (Implication before and after The companies act 2013(
prakyath n (5 Points)
20 April 2022Is the requirement of Minimum of 7 Subscribers to MOA applicable to goverment company's? or is President of India the only subscriber (Implication before and after The companies act 2013(
As per Section 3 of the Act,
A company may be formed for any lawful purpose by—
(a) seven or more persons, where the company to be formed is to be a public company;
(b) two or more persons, where the company to be formed is to be a private company; or
(c) one person, where the company to be formed is to be One Person Company that is to say, a private company.
No exemption on minimum subscribers has been given to Government entities as per MCA Notification dt. 5.6.15 GSR 463(E).
Any opposing views are welcomed.
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