What is the consequence if subscripttion amount not received from the subscribers of the MOA after incorporation of the company ??????????
3 Replies
P C Agrawal
(Registered independent director Past Ch)
(8229 Points)
Replied 03 August 2016
Company can sue the subscribers for recovery of the amount since it is a debtdue from the subscribers u/s 10(2).
vinay
(CS PROFESSIONAL)
(94 Points)
Replied 03 August 2016
okay. Can we remove the shareholder on account of that
P C Agrawal
(Registered independent director Past Ch)
(8229 Points)
Replied 05 August 2016
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
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