Facts of the case:
a) ABC Television Private Limited Company incorporated in Oct 20th 2014
b) Subscribers are 4 (2 are Indians subscribe 2 % and Two are Foreigners subscribe 98%)
c) Foreign Subscribers and unable to bring share Subscripttion money
d) Can we apply for close of Company ? Or can we shift their 98% subscripttion money to other existing shareholders without complying RBI and FEMA formalities ?
e) Or what are consequenses for Company in case of non receipt of share subscripttion money at the time of incorporation ?
With warm regards,
CAclubindia
