Subscription of MOA/AOA for consideration other than cash

[shama...@gmail.com]

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From: shama jain <shama...@gmail.com>

Date: Fri, 20 Jan 2012 18:44:51 +0530

To: <csmy...@googlegroups.com>

Subject: Subscription of MOA/AOA for consideration other than cash

Dear All Group Members

 

I need some suggestions over the matter "Is Subscription of MOA/AOA is allowed for consideration other than cash" or "do promoters are allowed to do expense on behalf of company and subscibe shares through MOA against that agreement of expenses."

 

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Regards
CS Shama Jain

[rama murthy]

Dear friend

To my knowledge, the law does not prohibit subscription of shares for consideration other than cash at the time of incorporation except that, it will be very cumbersome - ROC needs to know valuation, etc. etc - this will delay the entire process of company formation. It will be advisable to form the company quickly by subscribing just one share per person (on cash payment) and proceed allotting additional shares for consideration other than cash. 

Please visit the link http://www.caclubindia.com/forum/article-allotment-of-share-for-consideration-other-than-cash-52680.asp -Mr Ankur Garg has dealt with the subject quite extensively 

Ram

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