General

Subscriber to the Memorandum: 

A person, who subscribes to the memorandum, becomes a member immediately, even though no shares are allotted to him.

In such a case, till the shares are allotted to him, he is a member but not a shareholder.

A person is a member when the name of the person is entered in the registrar of member. Till his name is not entered in register of member, he is shareholder of the Company. The person who owns the share capital of the company is called sharholder and on register of the same such shareholder become member. The subcribers of the memorandum are deemed to be the members of the Company