02 October 2014
Does Subscribers to "Memorandum of Association" automatically become share holders of that company or do they need to file any returns?
A company has One lakh As Authorised, Issued and Subscribed Share Capital having two primary directors, two of them are stated as they will to subscribe 5000 shares each of 10Rs. Does these two become the share holders in immediate effect or they need to file any returns to ROC.
02 October 2014
1. Subscribers to the MOA are share holders. They need not file any forms/returns to ROC. However, company has to file e-form ING-21 ,with in 180 days of its incorporation,to vouch that agreed upon subscription money has been brought in by the subscribers.
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