Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Confusion in filing form1a- no. of promoters ?

CA Abhishek Singh (practice) (2106 Points)

20 July 2012

Hello everyone,

i want to form a pvt ltd company with 50 members.

i have din of 2 pesons who will also be the members.

i want to submit form 1A for name approval. in Form1A there is "number of promoters/first subscribers to MOA".

here normally we write 2 since mostly pvt companies are formed with 2 persons.

but in my case there will be 50 members.

i have 40 persons list ready with me. i am confused what number should i enter in this field ?

i will get 10 names within a week. should i mention the number as 40.

This will create a problem while filling the subscribers page of MOA because there i have to fill the details of 50 members whereas in Form 1A i have mentioned name of only 40 members .

What should i do ?

waiting for the reply of experts.

Reply
Follow
Share

9 Replies

AMIT MISHRA (Legal Professional) (393 Points)
Replied 22 July 2012

Hi Abhishek,

Since you have already filed Form 1A to make it simple you can initially incorporate the Company with 40 members and later admit the other 10 as members. Not all members necessarily need to be subscribers to the memorandum at the time of incorporation.

wait for the final list of 50 members and file Form 1 18 and 32 with NOC from the 40 members and file with 50 members.

Following is just my opinion. Also wait for opinions of the learned members

Thanks & Regards

Amit Mishra

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

CA Abhishek Singh (practice) (2106 Points)
Replied 22 July 2012

READ MY QUESTION CAREFULLY, I HAVE NOT FILED FORM 1A YET.

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 23 July 2012

File form 1A with 50 promoters.

thenafter when your list of subscribers will be finalized, file form 1, 18,32 for incorporation of the company.

However, it is advisable to incorporate the Company with limited number of promoters and then you can increase your shareholders easily.

1 Like

sangram ghatge (company secretary in practice) (198 Points)
Replied 23 July 2012

u can file form 1A with 40 promoters and then add other 10 promoters while filing form 1.

u need to attach a consent letter to form 1 signed by all 40 promoters mentioned in 1A, giving their consent for 10 new promoters.

this practice should be first confirmed with respective ROC.

1 Like

Jaideep (Service) (1368 Points)
Replied 23 July 2012

Agreed with Sangram...

Upgrade to CAclubindia Pro. Subscribe Now!

Swagatam Khandelwal (Company Secretary) (107 Points)
Replied 24 July 2012

While filling details in Form 1A, you will not be asked to give the details of all the 50 promoters. So you can easily file Form 1A with 50 promoters in case you are sure there will be no change in the number of promoters.

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 27 July 2012

Exactly...

CS. DISHA SHAH (Properitor of D. M. SHAH & CO. COMPANY SECRETARY) (394 Points)
Replied 27 July 2012

Hi Abhishek ji,

If you are sure about getting another 10 names, then,

write 50 Subscribers in the e-Form 1A n file the same. n can then get the name n file the same with MOA & AOA,,

But, do this if u r very sure otw, write only 40 in e-Form - 1A, and file, and if u r getting another 10 names then, get the consent from other subscribers and file the e-Form 1, 18 & 32.

1 Like