Hi friends
There is an private limited company in which 9999 shares were subscribed by foreign company & 1 share by its nominee. the Private company has not still received application money & allotted shares either to foreign company or its nominee. Now the nominee doesn't want to continue with the Private company. what is the procedure to change the nominee. pls do the needful....urgently
how can allotment made without money received?
vague query?
you have stated that & "allotted shares" ?????
Subscribers to the memorandum and articles has to bring in the subscripttion money with in a reasonable time. Then change in nomination can be done by invoking section 187C of the Companies Act,1956.
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