{"id":42542,"date":"2022-04-23T12:00:54","date_gmt":"2022-04-23T06:30:54","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=42542"},"modified":"2022-04-23T16:18:28","modified_gmt":"2022-04-23T10:48:28","slug":"moa-subscriber-sheet-complete-overview","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/moa-subscriber-sheet-complete-overview\/","title":{"rendered":"MoA Subscriber Sheet: A Complete Overview"},"content":{"rendered":"\n<p class=\"has-drop-cap\">Incorporating a company in India attracts\na copious amount of paperwork and compliances. The Memorandum of Association\nserves as a charter document of the company as it pens down all the elementary\ndetails about the company, its functions and powers. A subscriber in a company\nrefers to the first shareholders of the company. The subscriber subscribes to\nthe company&#8217;s share at the time of its incorporation. This write-up briefs out\nthe role and significance of an MoA subscriber Sheet in detail <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/moa-subscriber-sheet-complete-overview\/#Norms_around_subscribers_numbers\" >Norms\naround subscribers\u2019 numbers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/moa-subscriber-sheet-complete-overview\/#What_are_the_criteria_for_becoming_a_Subscriber\" >What\nare the criteria for becoming a Subscriber?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/moa-subscriber-sheet-complete-overview\/#Key_Particulars_of_the_MoA_subscriber_Sheet\" >Key\nParticulars of the MoA subscriber Sheet<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/moa-subscriber-sheet-complete-overview\/#Is_MoA_subscriber_Sheet_alterable_or_not\" >Is\nMoA subscriber Sheet alterable or not?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/moa-subscriber-sheet-complete-overview\/#What_is_the_submission_norm_of_the_MoA_subscriber_Sheet\" >What\nis the submission norm of the MoA subscriber Sheet?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/moa-subscriber-sheet-complete-overview\/#An_Overview_of_NRI_Foreign_National_Subscribers\" >An\nOverview of NRI &amp; Foreign National Subscribers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/corpbiz.io\/learning\/moa-subscriber-sheet-complete-overview\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Norms_around_subscribers_numbers\"><\/span>Norms\naround subscribers\u2019 numbers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The companies Act, 2013 pens down the\nrequirement of a minimum of number subscribers required at the time of\nincorporation against different business structures. This requirement is as\nfollows; <\/p>\n\n\n\n<ul><li><strong><a class=\"text-primary\" href=\"https:\/\/corpbiz.io\/company-registration\">Private company<\/a>\n<\/strong> : 2 subscribers <\/li><li>Public companies: 7 subscribers<\/li><li>One person companies: 1 subscriber<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_criteria_for_becoming_a_Subscriber\"><\/span>What\nare the criteria for becoming a Subscriber?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Any individual or body corporate or company can become a company&#8217;s subscriber. But, in the case of OPC i.e. <strong><a class=\"text-primary\" href=\"https:\/\/corpbiz.io\/one-person-company\">One Person Company<\/a> <\/strong>,Subscriber must be individuals. Where a company intends to become a subscriber, a representative is appointed to serve that purpose. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Key_Particulars_of_the_MoA_subscriber_Sheet\"><\/span>Key\nParticulars of the MoA subscriber Sheet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong><em>The <\/em><\/strong>MoA subscriber Sheet<strong><em> is a key\ndocument submitted during the incorporation process. <\/em><\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">First\nmember info<\/h3>\n\n\n\n<p>It entails particular about the first\nmembers of the company and their shareholding status for the time being. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Subscribers&#8217;\nName, Address, PAN and Occupation<\/h3>\n\n\n\n<ul><li>The\nsubscriber&#8217;s name, father&#8217;s\/spouse&#8217;s name must be explicitly mentioned in the\ndocument. The complete address should be there as well, along with a valid pin\ncode. <\/li><li>A\nPAN no. and occupation must be furnished along with the details mentioned\nabove. <\/li><li>Where\nthe subscriber is acting as a body corporate (Company\/LLP), the\ndirector\/partner of such establishment shall enclose a sign on behalf of the\nsame, without any personal motive whatsoever. <\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Number\nof Shares<\/h3>\n\n\n\n<p>The second column should reflect the\ntotal no of shares subscribed by that particular subscriber. This clarifies the\nreaders about the shareholding status of the subscriber and gives a better idea\nabout their ability to counter losses in testing times. <\/p>\n\n\n\n<p>It&#8217;s worth noting that the number of\ntotal shares subscribed by each individual must be equivalent to the overall\nno. of shares offered. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Signature <\/h3>\n\n\n\n<p>The subscriber&#8217;s signature legally binds\nthem to the document in the subscriber&#8217;s capacity and assures that they are\nofficially the very first shareholder of the company. <\/p>\n\n\n\n<p>For subscribers with inadequate academic\nbackgrounds, provisions can be presented for a thumb impression as a signature\nreplacement. <\/p>\n\n\n\n<p>It is vitally important that the\nparticulars of the Subscribers&#8217; Sheet are conveyed to the uneducated individual\nby an educated person. <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Witnesses: <\/h3>\n\n\n\n<p>The witness&#8217;s role is to authenticate the\ndetails included in the subscriber&#8217;s sheet. Generally, the Subscribers&#8217; Sheet\nencloses the signature of the practising Chartered Accountant or Company\nSecretary. Apart from signature, these professionals are also required to add\nbasic details such as their name, address, occupation, and membership number.<\/p>\n\n\n\n<p><strong>Example\nof an MoA subscriber Sheet<\/strong><\/p>\n\n\n\n<p>We, the several individuals whose\nparticulars are here subscribed, are desirous of forming a company according to\nthis MOA. We hereby confirm to undertake the given specified no. of shares; <\/p>\n\n\n\n<table class=\"table table-bordered\"><table style=\"width:465.05pt;border-collapse:collapse;border:none;\">\n    <tbody>\n        <tr>\n            <td style=\"border: 1pt solid rgb(221, 221, 221);padding: 4.6pt;height: 99.55pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>S.no<\/span><\/p>\n            <\/td>\n            <td style=\"border-top: 1pt solid rgb(221, 221, 221);border-right: 1pt solid rgb(221, 221, 221);border-bottom: 1pt solid rgb(221, 221, 221);border-image: initial;border-left: none;padding: 4.6pt;height: 99.55pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>Name, Occupation, Address, PAN of the Subscriber<\/span><\/p>\n            <\/td>\n            <td style=\"border-top: 1pt solid rgb(221, 221, 221);border-right: 1pt solid rgb(221, 221, 221);border-bottom: 1pt solid rgb(221, 221, 221);border-image: initial;border-left: none;padding: 4.6pt;height: 99.55pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>Number of Shares<\/span><\/p>\n            <\/td>\n            <td style=\"border-top: 1pt solid rgb(221, 221, 221);border-right: 1pt solid rgb(221, 221, 221);border-bottom: 1pt solid rgb(221, 221, 221);border-image: initial;border-left: none;padding: 4.6pt;height: 99.55pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>Subscriber&rsquo;s Signature<\/span><\/p>\n            <\/td>\n            <td style=\"border-top: 1pt solid rgb(221, 221, 221);border-right: 1pt solid rgb(221, 221, 221);border-bottom: 1pt solid rgb(221, 221, 221);border-image: initial;border-left: none;padding: 4.6pt;height: 99.55pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>Name, Occupation, Address, and Signature of the Witness<\/span><\/p>\n            <\/td>\n        <\/tr>\n        <tr>\n            <td style=\"border-right: 1pt solid rgb(221, 221, 221);border-bottom: 1pt solid rgb(221, 221, 221);border-left: 1pt solid rgb(221, 221, 221);border-image: initial;border-top: none;padding: 4.6pt;height: 33.2pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>&nbsp;<\/span><\/p>\n            <\/td>\n            <td style=\"border-top: none;border-left: none;border-bottom: 1pt solid rgb(221, 221, 221);border-right: 1pt solid rgb(221, 221, 221);padding: 4.6pt;height: 33.2pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>&nbsp;<\/span><\/p>\n            <\/td>\n            <td style=\"border-top: none;border-left: none;border-bottom: 1pt solid rgb(221, 221, 221);border-right: 1pt solid rgb(221, 221, 221);padding: 4.6pt;height: 33.2pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>&nbsp;<\/span><\/p>\n            <\/td>\n            <td style=\"border-top: none;border-left: none;border-bottom: 1pt solid rgb(221, 221, 221);border-right: 1pt solid rgb(221, 221, 221);padding: 4.6pt;height: 33.2pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>&nbsp;<\/span><\/p>\n            <\/td>\n            <td style=\"border-top: none;border-left: none;border-bottom: 1pt solid rgb(221, 221, 221);border-right: 1pt solid rgb(221, 221, 221);padding: 4.6pt;height: 33.2pt;vertical-align: top;\">\n                <p style='margin:0in;margin-bottom:.0001pt;font-size:16px;font-family:\"Times New Roman\",\"serif\";text-align:justify;line-height:150%;'><span style='font-family:\"Georgia\",\"serif\";'>&nbsp;<\/span><\/p>\n            <\/td>\n        <\/tr>\n    <\/tbody>\n<\/table>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Is_MoA_subscriber_Sheet_alterable_or_not\"><\/span>Is\nMoA subscriber Sheet alterable or not?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The Subscription Clause mentioned under\nMOA is non-alterable in any conditions. Even if the subscribers end up a\nnon-member, the Subscribers&#8217; Sheet cannot be subject to any changes. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_submission_norm_of_the_MoA_subscriber_Sheet\"><\/span>What\nis the submission norm of the MoA subscriber Sheet?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>When filing for the company&#8217;s incorporation, the Subscribers&#8217; Sheet acts as a vital supporting annexure, evidencing that the norms set out by the <strong>Companies Act, 2013<sup><a href=\"https:\/\/www.mca.gov.in\/content\/mca\/global\/en\/acts-rules\/ebooks.html\"><strong>[1]<\/strong><\/a><\/sup> <\/strong>are being complied with.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"An_Overview_of_NRI_Foreign_National_Subscribers\"><\/span>An\nOverview of NRI &amp; Foreign National Subscribers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In case of NRI validating and signing the\nsubscriber sheet <\/p>\n\n\n\n<p>from a place other than India, then\nhis\/her signature should be witnessed and authenticated by a public notary of\nthat nation or by an embassy&#8217;s official. <\/p>\n\n\n\n<p>In case the signatory of the MOA subscriber\nsheet is from a country other than India; <\/p>\n\n\n\n<ul><li>If the subscriber resides in any Commonwealth nation, his\/her signature and identity, and address proof should be notarized by a respective Notary Public of that location. <\/li><li>If the subscriber is residing in a nation falling under Hague Apostille Convention 1961, his\/her signature and address, and proof of identification should be authorized before a Notary Public of that nation of his\/her origin and be duly attested as per the Hague Convention.<\/li><li>If the subscriber is residing in a non-commonwealth nation that does not fall under Hague Apostille Convention, 1961, his\/her signature and address on the charter documents (AOA and MOA), identification proof, should be notarized via Notary Public of that nation. Moreover, the Notary Public&#8217;s certificate should be validated by the Consular Officer or Diplomatic empowered as per the Diplomatic and Consular Officer Act, 1948.<\/li><li>If the foreign subscriber validates and signs the subscriber sheet in India, then incorporation is only allowed if he\/she possesses a valid business visa.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The subscriber is the first shareholder of the company. The subscriber information needs to be appended to the MoA subscriber sheet as per the Companies Act, 2013. The validation of subscribers should also be reflected in such a sheet. Generally, the approval of a practising Chartered Accountant or Company Secretary is required for this purpose. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our Article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/the-memorandum-of-association-u-s-4-company-act-2013\/\">Memorandum of Association Under Companies Act 2013: Explained<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Incorporating a company in India attracts a copious amount of paperwork and compliances. The Memorandum of Association serves as a charter document of the company as it pens down all the elementary details about the company, its functions and powers. A subscriber in a company refers to the first shareholders of the company. The subscriber [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":42555,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[120],"tags":[2289],"acf":{"service_id":"321"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":12133,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/42542"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=42542"}],"version-history":[{"count":17,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/42542\/revisions"}],"predecessor-version":[{"id":42577,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/42542\/revisions\/42577"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/42555"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=42542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=42542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=42542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}