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Two people formed a private limited company stating as stated capital 1lakh and paid-up capital 1 lakh, but one of the directors has not invested to start the company and all the burden lies on the second person. However, the person promised that he will pay and has been prolonging ever since actually waiting for the first business profit to happen and pay from that.

1. Director cannot remove a director. Only Shareholders can remove Directors.

2. There is no time period provided under the CA, 2013 for payment of subscription money by the subscribers to the Company. Therefore, we can say that it is not mandatory to pay share subscription money immediately on the incorporation of Company. Subscription of MOA...


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