helo friends,
if a person's name not metioned as a promoter while filing Form 1A...
Does he has the right to subscribe for the shares, during the incorporation of the company????
if so, kindly provide me the No objection Certificate Format, to be given by the applicant of Form 1A....
itz urgent plz....
m not sure but i think name of all the promoters should be mentioned in Form1A, then only they can be subscriber of MOA.. (as the Form1A requires to fill the name of first subscribers)
There is no format as such for the no objection., However, if the name is not mentioned in the Form 1A and even not in MoA and AoA, you can allot share to the person after the incorporation of the company by passing a resolution. He need not be the subscriber to the memorandum and articles.
Subscriber to MOA may not be an applicant of form 1A . An applicant of form-1A shall not be necessarily a subscriber to it. Hence the question of NOC does not arise here.
According to DCA circular in 25th Feb,1995 I want you to notice that list of promoters mentioned in name availability form should be the same as list of subscribers to MOA. BUT due to some practical difficulties faced, DCA further says that at least one of the promoter mentioned in name availability form should be subscriber to MOA and hence his name should be mentioned in Form 1. But in this case other promoters should give their NOC which shall be attached to Form 1
helo friends, if a person's name not metioned as a promoter while filing Form 1A... Does he has the right to subscribe for the shares, during the incorporation of the company???? if so, kindly provide me the No objection Certificate Format, to be given by the applicant of Form 1A.... itz urgent plz....
do we need get notarized and appostilised from Indian Embassy of forign country for NOC for change in subscriber who is forigner.
CAclubindia
