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PC Agrawal (PCS)     23 February 2012

Subscriber to memorandum not a shareholder if amount unpaid

Dear friends,

 

CLB Mumbai Bench has held as per attached order that a subscriber to Memorandum of Association of a company is not a shareholder of the company if he has not paid subscripttion money and hence cannot file a petition u/s 397/398 of Companies Act 1956.

 

Thanks

 



Learning

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