Subscribers\nshareholding <\/p>\n\n\n\n
Subscribers must agree to take at least one share each in the MOA initially, but they can also agree to take more than one share under section 2(68) of the act 2013. A private limited company <\/a>may have such amount of minimum paid-up share capital as may be mutually decided by the subscribers as need of having Rs.1 lac as minimum paid-up share capital has been dispensed with. <\/p>\n\n\n\n Denomination\nof shares <\/p>\n\n\n\n Shares may\nbe comprising of denomination of Rs.10 or Rs.100 or of any denomination, but\nshould not be less than Rs.1 per share. Denomination of shares can be decided\nby and between the promoters before entering into this agreement suitable to\ntheir purpose or needs at a later date. <\/p>\n\n\n\n Section\n43 of the 2013 act allows share capital of a company limited by shares to be of\ntwo types equity share capital and preference share capital. <\/p>\n\n\n\n Appointment\nof Directors <\/p>\n\n\n\n Directors\ncan be appointed by the articles of association of a company or where no\ncondition is made in the AOA for the appointment of first director. The subscribers\nto the memorandum who are individuals shall be considered to be the first\ndirectors of the company until the directors are duly appointed. <\/p>\n\n\n\n Preliminary\nScheme<\/p>\n\n\n\n Before\nentering into this agreement, the four partners should have a preliminary\nscheme for conversion into a company the business carried on by the partners.\nThis scheme should contain all the conditions relating to name- share capital,\nMOA, first directors of the company, sale business of the partnership firm,\npayment of purchase price etc. <\/p>\n\n\n\n Availability\nof name <\/p>\n\n\n\n First and Foremost a name should be made available from the ROC. Subscribers may avail the name and simultaneously incorporate a new company<\/a> by creating an application electronically in a single integrated e-Form INC-29 with a fee of Rs.2000\/- to be paid both online and offline. <\/p>\n\n\n\n Whereas\nthe parties have agreed to form a company to be registered under the act 2013\nfor the purpose of acquiring as a going concern the business of legal and\nfinancial consultancy. <\/p>\n\n\n\n Whereas the parties have in principle made up their mind to carry on the business in the same way, only through a registered company<\/a> to take advantage of limited liability. <\/p>\n\n\n\n The\nparties shall forthwith procure from the ROC in Chennai (the incorporation of a\nprivate company limited by shares (referred to as the company) having an\nauthorized share capital of Rs.5 lakhs divided into 25,000 equity shares of\nRs.10. <\/p>\n\n\n\n The valuation of the business of the said\npartnership together with its assets, stock in trade and goodwill containing\nbook debts but subject to liabilities will be gained from CA of the said\npartnership firm. The equity and preference shares in the company capital will\nbe assigned to the parties. The consent of the creditors has been gained by the\npartnership firm for company registration. <\/p>\n\n\n\n The company shall be called \u201cABC Company Private Limited\u201d or ABC Consultancy Private Limited or ABC Financial Services Private Limited <\/a>or ABC and Company Private Limited whichever name is made available by the ROC.<\/p>\n\n\n\n Mr. RST,\nMr. PQR and Mr.XYZ shall be the first directors of the company quickly after\nincorporation and registration. Thereafter, the company directors shall be\nappointed as per the conditions of section 152 of the act. The maximum number\nof company directors shall not exceed 15 which may further increase by special\nresolution. <\/p>\n\n\n\n Immediately upon company registration, after the business of the partnership firm is transferred to the company. The partnership firm<\/a> shall stand dissolved and no party shall have any liability against one another. <\/p>\n\n\n\n The association\nshall be the first directors of the company quickly after registration and\nincorporation. So, the company directors shall be appointed under section 152.\nThe maximum number of company directors shall not increase 15 as mentioned in\nsection 149.<\/p>\n\n\n\n The company\nshall after its registration make simultaneous allotments of shares to be allotted\nto them respectively in accordance with the conditions of the sale agreement. <\/p>\n\n\n\n![\"Agreement](\"http:\/\/www.solubilis.in\/blog\/wp-content\/uploads\/2016\/04\/companyregistrationinchennai.jpeg\")
<\/figure><\/div>\n\n\n\nClassification\nof shares <\/h3>\n\n\n\n
\u00a0Draft Agreement among partners of a partnership firm for formation of a company to need their business of partnership <\/h4>\n\n\n\n
Now,\ntherefore it is hereby agreed as follows: <\/h5>\n\n\n\n