Allotting shares to directors

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Amit Subodh (Querist)
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25 August 2012 in a pvt ltd. , if a director is allotted 100 shares( of 50 rs each) at a time of formation of company. do he need to pay that much amount of money at the same time or he can pay later before the year ends.

Ajay Mishra

Ajay Mishra (Expert)
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25 August 2012 Hi

He can pay later,no need to pay subscription amount at the time of incorporation of company.

It will be treated as debt due from him as per section 36(2) of the Companies Act, 1956.

Guest

Guest (Expert)

25 August 2012 Right, amount can be paid later on also. But it is advisable that it should be paid within reasonable time as a good practice.

With Regards

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