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company law

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(Querist)
14 October 2009 the subscribers to MoA state the number of shares they agree to take up in subscription clause.. whats the time limit within which they should pay the company and take up those shares...?
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Ankur Garg

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Ankur Garg (Expert)
14 October 2009 No time limit is there in company law. Best practice is collect the money after incorporation or as soon as possible.

There is no need to take these shares through filing of form -2. Subscribers deemed to be the holders of subscribed shares.

Regards
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