Public company

Company can sue the subscribers  for recovery of the amount since it is a debtdue from the subscribers u/s 10(2).

okay. Can we remove the shareholder on account of that

Options:

I) File civil case for  recovery of amount; or

II) Get the shares transferred in favour of new investor if the subscriber is willing to do so; or

III) Make fresh allotment of shares to have minimum paid up capital and follow up for recovery of subscripttion amount; or

IV) File petition with NCLT for rectification of register of members u/s 59