how will be contract before incorporation will be dealt ....i.e. promoter paid the amount as advance before incorporation of company for fixed asstet n etc , after incorporation how will company adopt these payment .i.e.is any resolution to be passed bye member to adopt such contract........case is for pvt ltd co.
2 Replies
Jagruti (CS)
(Service)
(1953 Points)
Replied 13 September 2010
Just pass the Board Resolution in first board meeting adopting the pre incorporation contract entered by the promoter in its own name on behalf of the Company
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 16 September 2010
For adoption of pre incorporation contracts there is 3 conditions:-
1. There should be the provision for the same in the Articles of the Company
2. Pre incorporation contracts must be adopted. and
3. Adoption must be communicated to the other party.
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