28 July 2011
Hi Experts I have query of section 34 of Co. Act in relation to Certificate of Incorporation is Conclusive evidence because in General Circular No. 49 /2011 there is one cloase that empower the ROC as under. 6. Where a c ompany has been registered online on the basis of dec larations made by the subsc ribers, dec larant(s) and c ertific ations by the professional(s) given in the e-form, if it is found later on that the c ompany ought not to have been registered under provisions of the Companies Ac t, 1956 read with Rules and Regulations made therein, the Registrar of Companies shall take nec essary ac tion to put the c ompany in state of suspended animation and initiate the proc ess of revoc ation of the registration of the c ompany after giving an opportunity of being heard. it means if there is a minor suscriber than the ROC may direct to suspend the registration, is it true, whats your opinion?
28 July 2011
As far as transactions with a Minor is concerned, it relates to Contract Act, coz signing of Subscription pages to MOA & AOA is a contract wherein the person undertakes the liability to pay for the shares signed thereto.
Convincing RoC has to be very specific taking into account various provisions of laws.
One option that can be adhered to is that you may file a declaration along with that the amount of cash has been received from the guardians of the minor in full, on behalf of the minor & there will be no default of payment of Subscription amount.
CAclubindia
