CA JINKAL HALAPARA (CA JINKAL) (26 Points)
04 June 2016In case of private limited company, where there are two individuals subscriber of MOA., One of them has paid subscripttion money partly in cash and partly through Bank. Other has paid subscripttion money fully by cash . Company has issued share certificate to both of them. Is it allowed as per new provisions of Companies Act 2013??
Mayank Jain
(Student)
(67 Points)
Replied 04 June 2016
Dear Jinkal,
The Companies Act, 2013 does not specify any exclusive provision for the mode of payment of subscripttion fee, so as per the companies act, there is no objection on the issuance of share certificate to sbscriber of MOA.
Further, As per MCA Notification Dated 5th June 2015, Private Compnaies have provided many exemptions, so it is easy to follow the provisions of the Companies Act, 2013 with respect to the Private Company.
Regards
Mayank Jain
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