share capital subscription
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 March 2011
Company X being a subscriber to a new company formation (Company Y) but the payment for subscription to share capital is not made in the books of company X.
Is it possible for a subscriber to be in the memorandum of Association(MOA) as subscriber but does not pay his share in capital as specified in MOA.
what is the time limit for such payment
Is it possible for a subscriber to be in the memorandum of Association(MOA) as subscriber but does not pay his share in capital as specified in MOA.
what is the time limit for such payment
24 March 2011
Not at all possible,because it will go aginst the subscription clause (last page) of the MOA.
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