Shareholder did not induce their amount of subscription.
Posted By :
Deepak /
Published on :
15-Nov-2017 01:47 PM /
View :
838 /
Comment :
1
Dear Professional friends, My client registered a company in Aug 2017 wherein there were three subscribers; A, B, C. B & C didn't transfer their amount of subscription into the company Bank account. Also, they are not willing to cooperate in signing in any document neither for share transfer etc. What remedy A has in this case?
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Dear Deepak,
The simple way out is to complain to the concerned ROC if B and C are not willing to transfer the shares. Subscription amount shall be deposited within the period of 60 days from the date of incorporation.
Best, Gaurav.