Dear Friends / Experts
One of Our Client has incorporated a Public Limited Company whose sharecapital is of Rs.10,00,000/- divided into 100,000 shares of Rs.10/- each split amongst 7 Subscribers.
Now the Capital Contribution of Rs.10,00,000 has been brought in by a Single Subcriber into the current account of the Company. The Amount has been transfered from the personal account of the subscriber. The Memorandum has 7 Subscribers. But the amount has been a single subscriber.
What can be done in this regard ? Kindly guide and advise.
CAclubindia
