Article 9 to 12 of Schedule 1 Table A.

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pradeep (Querist)
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22 June 2009 whether shares subscribed by promoters on company formation which have not been paid for by such promoters can be transferred by the company as per Article 9 to 12 of Schedule 1 Table A.

If yes, then the new shareholders would the transferee shareholders pay the amount to the company
Kindly help me

Ankur Garg

Ankur Garg (Expert)
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22 June 2009 Yes, Shares subscribed by promoters can be transfered later on.

The transfer amount should go to the promoters as they are the transferor.

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