Change the subscriber of MOA and AOA

This query is : Resolved

Megha Gupta (Querist)
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04 February 2009 Hello, Please anybody can provide me the detailed procedure for changing the subscriber of MOA and AOA.

Actually, there is a pvt. company whose subsriber to MOA are two other company, one is Public Ltd. Company holding 9000 shares in the company and another is Pvt. Ltd. Company holding 1000 shares in the company.

The total authorised capital is 100000 Rs. divided into 10000 Eq. Shares of Rs. 10 each.

or another thing is that in fact these two subcriber did not subscribe for theses shares only we've shown in the MOA.

now pls tell the procedure for how these two company can cease to be a subscriber from MOA?

its urgent.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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04 February 2009 Once a company is formed you cannot change the subscribers to memorandum and articles. Company law do not allow for that.
Since in your case you are telling that even you have not received money what you have to do the new person to whom you want to give the shares should purchase from those two subscribers and those two subscribers has to pay the same to company.

The names of subscribers will not be altered but the ownership will get automatically passed on to new persons when you file annual return.

Megha Gupta

Megha Gupta (Querist)
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05 February 2009 means in annual return name of new persons has to be shown as shareholders of the company.

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