Can persons resident in India subscribe to bonds (foreign currency/INR) issued by eligible ECB borrowers in overseas centres or IFSCs as permitted in the ECB framework?
What happens to Rights Entitlements (REs) which are neither subscribed nor renounced on or before the Issue Closing Date?
what are the time limit within which the subscription amount to be brought by the subscribers of the company after incorporation under FEMA guidelines.Click here to view / answer Share it on
A Company soon after incorporation allotted shared to the subscribers. However the opening of bank account took time due to legal hurdles. Meanwhile the allottee, a non resident (holding 99% shares) went out of India and bank refused to open account without his presence however they agree if he transfer his shares to resident person. Is this possible to transfer such shares, which has been allotted pursuant to Incorporation of the Company but for which no subscription money is received yet?
If we filed INC-20A for Company on 182nd day with a late fee of 600/- but the subscriber paid money within 180 days.
Is it non compliances ?
There is no prohibition/restriction under the Companies Act, 2013 for receiving the subscription money in cash (i.e., not through account payee cheque or other banking channel).
However, the company and/or subscriber(s) has(ve) to comply with the provisions of the Income Tax Act, 1961 with regard to cash transaction.
A company has been incorporated but the subscribers to the
company has not paid subscription money. Whether it is necessary
for the company to issue share certificates within two months with or
without the receipt of share subscription money as per the provisions
in the Companies Act, 2013?
Can a foreign subsidiary incorporated in India receive its subscription money in installments?Click here to view / answer Share it on
There is a newly registered company and the Subscribers want to pay Subscription money in Kind in the form of Assets. Can we do that?
I feel it is not possible however want to have clarity.
greetings of the day...
Pls guide on the following:
An1 WOS company was incorporated in 2016 as a Section 8 Company, but due to FCRA restrictions the Subscription money could not be received.
Now the FCRA application is rejected and its 5th year of company and entire share capital is not received.
Please guide as to what may be the consequences of this situation?
Please suggest "Should the shareholder bring in the subscription money before the closure of offer period" ? Is this mandatory requirement under Co's Act, 2013.
In newly incorporated Nidhi company one of shareholder cum director is refusing to pay subscriber money for shares...how to proceed now?
Can we directly allot shares to someone else with board resolution stating subscriber to moa is dening to pay??
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