Subscribed capital not paid up fully

This query is : Resolved

M NARASIMHA REDDY (Querist)
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19 December 2014 1.In Private Limited Company MOA Authorised capital is rs.10 lacs and subscribed capital is rs.10 lacs. But the subscribers invested (paid up) only 10 % of subscribed capital i.e. Rs 1 lac. (partly paid up)

2. Later allotment of new shares made to the same shareholders rs.2 lacs.fully paid up. This allotment without knowing that subscribed shares are partly paid up.Authorised capital not increased.

3.Later allotment of shares to new shareholder rs.2 lacs.Authorised capital not increased.

issues

1.whether subscribed capital to MOA can be partly paid up?

2.whether allotment made to existing shareholders without increasing authorised capital is valid ?

3. Whether allotment made to new share holder without increasing authorised capital is valid?

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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22 December 2014 1. No. It must be fully paid up

2. It is not valid

3. It is not valid

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