Subscriber to moa died before allotment of shares

I am talking about Subscriber clause. Not name clause

Kanika,

Has the Company received money from subscriber for subscripttion of shares, who has expired ? if yes, shares to be transmitted to Registered Nominee or Legal Heir or as  in prescribed in probotion or succession certificate.

If Company has not received subscripttion money from Subscriber, in that case, subscribers liability is still subsisting, his registered nominee or legal heir has to pay the subcription money and get the shares trasmitted in their names.

thanks Prakash for your reply. Subscriber has not yet paid the money. 

now is his nominee obligated to subscribe for those shares?

And on basis of what legal provisions u r saying this? can u pls clarify

It can be enforced as civil liability in a court of law, there are no prescribed provisions in CA, 2013.

But as per the general law, this contract has become impossible to perform as subscriber has died. How we can compel the legal representative to subscribe for the shares as declared by the deceased?

Section 2(55)(i):

"member in relation to a company means ---

(i) the subscriber to the memorandum of the company who shall be deemed to have agreed to become member of the company, and on its registration, shall be entered as member in its register of members;

Section 10(2):

"All monies payable by any member to  the company under the  memorandum or articles shall be a debt due from him to the company."