allotted to an amount not less in the whole than the minimum subscription; (b) every Director of the company has paid to the company
Companies Act, 1956
69. Prohibition of allotment unless minimum subscription received .-
(1) No allotment shall be made of any share capital of a company offered ... money, and is in this Act referred to as "the minimum subscription". (3) The amount payable on application on each share shall not be less
executive of the Trade Union; ( ee) the payment of a minimum subscription by members of the Trade Union which shall not be less than
issue of prospectus against the promoter of the company; (xii) minimum subscription, amount payable by way of premium, issue of shares otherwise than on cash
managers or proposed managers (if any); and (d) the minimum subscription on which the directors may proceed to allotment, and the amount payable on application
allotted to an amount not less in the whole than the minimum subscription ; and (b) every director of the company has paid to the company
memorandum or articles and named in the prospectus as the minimum subscription upon which the directors may proceed to allotment; or (b) if no amount ... cash, and is in this Act referred to as the minimum subscription. (3) The amount payable on application on each share shall, not be less
company offered to the public for subscription, unless the amount stated in the prospectus as the minimum subscription has been subscribed and the sum payable ... shares in respect of the minimum subscription has been received by the company. If such amount of minimum subscription has not been received within
relevant, therefore to, extract the minimum subscription
clause as contained in the prospectus :-
"..MINIMUM SUBSCRIPTION
IF THE COMPANY DOES NOT RECEIVE THE MINIMUM
SUBSCRIPTION ... various technical grounds. If as per the clause of
minimum subscription, the minimum subscription had to be calculated as on
the date of closure
such body(ies) corporate also." (g) Other Information- (i) the Minimum subscription for the issue; (ii) the fees and expenses payable to the intermediaries involved