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Share Allotment to Subscribers to the MOA

ashish lohiya (chartered accountants) (58 Points)

10 November 2008

Hi All,

Plz let me know that –

1. What is time frame for share allotment to subscribers to the MOA of Pvt. Co..

2. whether board resolution is required for the same.

3. whether filling of above board resolution with ROC is compulsory.

Regards

AShish Lohiya

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3 Replies

S.Srinivasaraghavan (Chief Financial Officer and Co) (11318 Points)
Replied 10 November 2008

Please note that the subscibers are automatically allotted the shares on the date of company registration. Therefore the question of Board resolution for allotment ad filing of Form 2 are not applicable.

S Kedarnath (91 Points)
Replied 12 November 2008

subscribers to the MOA are deemed members right from the date of incorporation and the allotment to them is a deemed alotment and no specific resolution is required for allotment. However, share certificates are required to be issued for which board resolution is necessary.