Urgent Query_Incorporation of Company with partly paid up shares

[Nishant Bajaj]

Dear Friends,

please help me in following queries of mine.

We want to incorporate an company having an authorized share capital of ten lac and also subscribe capital of rs ten lacs. But we will keep paid up as only one lac by issuing partly paid up shares. We will manage to comply section 3 by subscribing minimum one lac rupees capital

Can an company be incorporated with partly paid up sahres

Please let me know suitable solution


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With Warm Regards

Professionally Yours

NISHANT BAJAJ  

C.S, L.L.B.

Mobile  :  +91 7738 66 98 98  Email   :   nishant...@gmail.com

 

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[Nishant Bajaj]

Thanks For Reply.

Please can you also let me know, in normal circumstances till when should the company receive the minimum paid up capital

I have seen a company where it is has not received the minimum capital till two years of incorporation. what is the legal consequences of same.
The Company is private limited company
Please support the same by some  provision/or/case laws 

On Tue, Jun 12, 2012 at 6:52 AM, veena iyer <wit56...@yahoo.co.in> wrote:

Dear mr. Nishant   In this case, the subscribed capital will be equal to paid up capital and as such, this can be done by issuing party paid up shares.   Warm Regards Veena Iyer Practising Company Secretary Chennai M: 9003104537 E: wit56...@yahoo.co.in --- On Mon, 11/6/12, Nishant Bajaj <nishant...@gmail.com> wrote: From: Nishant Bajaj <nishant...@gmail.com> Subject: (CSchennai) Urgent Query_Incorporation of Company with partly paid up shares To: csch...@googlegroups.com, csmy...@googlegroups.com Cc: "aashit doshi" <aashit_...@yahoo.co.in>, "Abhishek Joshi MSOP" <abhishe...@rediffmail.com>, "Abhishek MSOP" <abhish...@gmail.com>, "Abhishek MSOP" <abhish...@rediffmail.com>, "Anita MSOP" <anit...@gmail.com>, "Ankita" <ankita...@gmail.com>, "Ankita MSOP" <ajkam...@gmail.com>, "Avni MSOP" <avni....@gmail.com>, "Kamleshwari MSOP" <kamles...@gmail.com>, "Kavita Patkar MSOP" <kavit...@yahoo.com>, "Kavita Sagalia" <kavita...@gmail.com>, "Komal MSOP" <komal_s...@yahoo.in>, "Komal Singhi MSOP" <singhi...@yahoo.com>, "Kunal MSOP" <kunalch...@yahoo.com>, "Mansi MSOP" <mansi....@yahoo.com>, "Nidhi MSOP" <nidhi.sa...@gmail.com>, "Nishant Bajaj" <nishant...@gmail.com>, "Payal Koradia" <payal....@gmail.com>, "Pooja MSOP" <poojagao...@gmail.com>, "Pratiksha MSOP" <pratiksh...@hotmail.com>, "Preetal MSOP" <preetal...@gmail.com>, "Priyadarshan MSOP" <pn_s...@yahoo.co.in>, "Priyadarshan MSOP" <pns...@gmail.com>, "Rameshwari" <rameshwa...@gmail.com>, "Ranjita MSOP" <ranju...@rediffmail.com>, "Rasika MSOP" <rasika.c....@gmail.com>, "Riddhi MSOP" <ridd...@gmail.com>, "Rohit Ghaisas" <ghaisa...@rediffmail.com>, "sanjay solanki" <sanjay...@yahoo.com>, "sayali Patkar" <sayali_...@yahoo.com>, "Shweta MSOP" <shweta...@gmail.com>, "Sifora MSOP" <sifor...@yahoo.co.in>, "Tulsi MSOP" <tuls...@gmail.com> Date: Monday, 11 June, 2012, 11:04 PM

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[kameswara Rao Kappagantula]

As in u r case as u have the Minimum Capital so u can issue Partly paid-up.

 

Further as per Section 36 all moneis receiveable by a Company from a Memb er under the MOA and AOa as sucriber is a debt due to the Company from the saids Member.

 

THere is no hard and fast rule as to when we need to receive the subscrptiuon money and unless u call the same and fix a time there is time limit.

 

Generally the normal laws of Contract will applicable.

 

Kamesh

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