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We formed a private limited company with Authorized capital INR 1 L and paid up capital INR 1 L, but one of the director 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. Now the two people are directors with equal responsibilities and have equal shares. The issue is:
  1. Director cannot remove another director. Only Shareholders can remove Director.
  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 o...

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