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How to remove a member subscribed to moa

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How to remove a member in a Pvt. ltd. company susbscribed to Memmorandem of association but not paid the amount for shares?

Replies (2)

It is not possible.  Refer Sec.2(55)(i) and Sec.10(2).  Subscriber will have to transfer his shares to someone else.

 

Dear Agarwal Sir,

I feel in this case,  subscriber cann't transfer shares since the amount is not paid and further board may not approve transfer of shares and as quoted by you, All monies payable by any member to the company under memorandum or articles is debt due from him to company, hence company can approach civil court to receive money.


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