Share capital -subscribed, paid up

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Pratibha (Querist)
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06 November 2008 Please clarify me with regards to share capital, ie. in the agreement it is mentioned that the initial issued, subscribed and paid up capital will be Rs 20 crores, but in Memorandum & Articles of Association it is subscribed only Rs. 15 Crores,
then my question is that how much amount is to be paid by the memebrs of the company?
whether if only Rs, 15 crores be paid now then will it be in contradiction to the companies act, 1956.

Guest

Guest (Expert)

06 November 2008 It is a contradiction. Minimum 90% to be SPaid-up

Pratibha

Pratibha (Querist)
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06 November 2008 Sir,
it is not the case of public issue, shares are issued only to the promoters,
i.e. private issue where the subscribers/memebres will take the shares,

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