Form 2.

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Guest

Guest (Querist)

30 December 2009 Dear Experts,

Query regarding Form 2 :

As we all know, Form 2 is not required at all to be filed for the equity shares subscribed by the subscribers' through MoA.

Can you please clarify as per applicable provisions of companies act, where it is mentioned that Form 2 is not required to be filed for the equity shares subscribed by the subscribers' thro' MoA ?

Thanks and shall await your views.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 December 2009 Sir, to my understanding there is no stand alone section in the Companies Act,1956 stating that form 2 shall not be filed for shares subscribed through MOA. Because there is no need to have a separate section in view of the wordings in section 15 and section75(1).

Signatories to the MOA subscribes the shares mentioned in the MOA who should add his address, description and occupation in addition to a clear mention of the number and nature of shares subscribed by them which is as good as filing of form-2.

Like wise section 75 says about allottment of shares and filing of return of allottment etc. Since section 75 uses the word allottment,and not the word subscribe,filing of form 2 is not expected by that section for subscribing of shares since that function is taken care by section 15.

Guest

Guest (Querist)

30 December 2009 Sir, Thank you so much for your views.

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