Differnce Between Promoters & subscribers

[aditya garg]

Dear All Professionals, 

Please clarify the following:

Are the promoters & Subscribers to the MOA, same persons ?

--

Regards,

ADITYA GARG
Management Trainee
INMACS LIMITED
504, Chiranjiv Tower
43, Nehru place
New Delhi-110019

Contact Details:-
Mob.No.- 9911692535
E-mail Id:- aditya...@gmail.com

                aditya...@yahoo.com
                aditya...@rediffmail.com
               

[sudhir kumar]

hi!!
As far as companies act is concerned subscribers to the Moa are by
default promoters of the company.
But under the take over regulations promoters have been specifically defined.
Thanks and Regards
Sudhir kumar
Companysecretary
Hyderabad

> --
> Find eNewsletters of ICSI Mysore at:
> http://www.icsi.edu/NewsEvents/enewsletters/tabid/1757/Default.aspx AND
> www.esnips.com/web/icsimysore
>
> You received this message as you are subscriber. To unsubscribe email to:
> csmysore-u...@googlegroups.com

[aditya garg]

Sudhir ji ,

Thanks but please clarrify that is it necessary that these both will always be same persons ?? Is there any difference in public or private   company in this regard???

[sudhir kumar]

Hi !!! Dear Aditya

Subscribing to the MoA is a evidential proof that they are the
promoters of that particular private ltd or closelyheld public ltd.
But with regard to a listed company sebi have specifically defined
them in the ICDR Regulations and also in Take over Regulations. YOu
kindly go through them then u can get the difference between listed
and closely held company.

Thanks and Regards
Sudhir kumar
Companysecretary
Hyderabad

77027 12666

[Sakshi Vaid]

promoters & subscribers may be 2 different persons..promoters are the one who conceive the idea and subscribers are who subscribe the capital of the company..as per sec254 subscribers to moa are treated as directors until the directors are app. as per sec 255.therefore there is similarity between subc.& directors .subc & prom may be same in case of pvt. co.

Regards

sakshi

 

[Vivek Aggarwal]

Dear Aditya

Though in most of the cases, they are the same but it is not compulsory that they must be the same. Subscribers to MOA can  be different from Promoters, however it is a rare case.

 

Regards
CS Vivek Aggarwal

---

From: aditya garg <aditya...@gmail.com>
To: csmy...@googlegroups.com
Sent: Thu, 30 December, 2010 5:32:56 PM
Subject: [CSMysore] Differnce Between Promoters & subscribers

[Narayan S]

Hi

 

If you read the Subscription clause of the MOA it reads as "We, the several persons whose names and addresses are subscribed, hereto are desire of being formed into a Company in pursuance of THIS MEMORANDUM OF ASSOCIATION:.

 

By the above clause it gives a very clear meaning that these persons are subscribing for what? for purpose of forming the Company and therefore it is very clear that Subscribers are the Promoters of the Company.

 

Regards

S.Narayan

--
Regards
S.Narayan

[Vivek Aggarwal]

Dear Narayan

 
What you are saying is right but it is also possible that promoters may not be the subscribers to the MOA & they may be some persons other than promoters though practically it is a very rare case but still it is possible & also law does not prohibit this.

I hope I am clear now.

Regards
CS Vivek Aggarwal

---

From: Narayan S <naraya...@gmail.com>
To: csmy...@googlegroups.com
Sent: Fri, 31 December, 2010 3:08:28 PM
Subject: Re: [CSMysore] Differnce Between Promoters & subscribers