subscription of shares

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shubham jain (Querist)

11 February 2011 Subscriber to the memorandum have subscribed to take share of worth Rs. 10 lakhs. they are transferring bussiness to the company for Rs. 20 lakh thus all the sharesof RS 20lacs will be alloted for consideration other than in cash.
ques- whether return of allotment in form no.2 should be filled for Rs. 20 lakh or for Rs. 10 lakh that is excluding the amount of shares subscribes through MOA.
Any other suggestion may be given

udit sharma

udit sharma (Expert)

12 February 2011 In my opinion, return of allotment should be filed only for Rs.10 lacs i.e. excluding the amount of shares subscribed through MOA as that is not allotment of shares.

God Bless

CS Udit Sharma

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Jayashree S Iyer

Jayashree S Iyer (Expert)

12 February 2011 Shares alloted to subscribers of MOA are in the nature of deemed allotment. Hence now return of allotment should be filed for Rs.10 lacs only.

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