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Company incorporation

Jagdish (CA CS activities) (215 Points)

10 March 2016

Is it OK if the sequence of Promoters in Form INC-1 and INC-7 (MOA and AOA) not same? Please reply. urgent.

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6 Replies

JOJY THOMAS (CHARTERED ACCOUNTANT) (295 Points)
Replied 10 March 2016

Promoters should be the same and their sequence (order) can be changed . The person who has filed the approved inc-1 and whose digital signature is used for filing inc-7 will be the first promoter as per inc-7. Sequence can be changed in MOA/AOA provided the details in inc-7 and moa/aoa should be matched

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prakash (Company Secretary) (1352 Points)
Replied 10 March 2016

Jagdish,

It is ok, you can go ahead, need to be follow sequence.

Jagdish (CA CS activities) (215 Points)
Replied 10 March 2016

Thanks

Jagdish (CA CS activities) (215 Points)
Replied 10 March 2016

Sir,

It was giving an error while uploading INC-7, as the sequence of Promoters is different from INC-1.

"Copy of NOC for promoter change from initial subscribers to Memorandum of Association must be attahced."

When I filled another Form INC-7 with mathcing sequence with INC-1, it got uploaded succesfully (the payment is not done yet). But my concern is the sequence of Subscribers to MOA & AOA is not as per Form INC-7.

prakash (Company Secretary) (1352 Points)
Replied 10 March 2016

Jagdish,

The promoters mentioned in Form INC-1 should be promoters of proposed company in form iNC7 also, otherwise, if any of them not willing to subcribe, you need to get NOC from them for incorporating the company. NOC should be one of the attachment to form INC-7.

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sandeep (student) (188 Points)
Replied 10 March 2016

Can we received cash from shareholder as share capital during startup of company. If not then please suggest the way and procedures for raising fund through equity share in the company.