When a company is to be incorporated, it needs to fill Form No. 1A to ROC for name availability. Once the name approval is received from ROC drafting of Memorandum of Association (MOA) and Articles of Association (AOA) of the company needs to be done. Further, the MOA and AOA should be subscribed by at least two persons in case of Private Limited Company and at least three in case of Limited Company.
The subscriber’s sheet consists of the details of the subscribers. Each subscriber needs to hold at least 1 share and shall write opposite to his name the number of shares taken by him. Further, he also needs to add his address, description and occupation (if any) along with a signature in presence of at least one witness who shall likewise add his address, description and occupation (if any).
As per the latest amendment, the subscribers and the witness need to fill their details in the subscriber’s sheet in their own handwriting. The printed details of the subscribers are no more accepted by the ROC.
Logic Behind the Change:-
MCA needs the subscribers to the Memorandum and Articles and the witness to camp at a specific location and fill in the details. In case of the printed details it is not possible to determine whether both the parties have camped at a specific place. Therefore, to ensure presence of both the parties in a common camping ground, MCA has brought in a new change in which the details of the subscribers and the witness needs to be filled in own handwriting.
Details to Be Filled Column wise:-
In case of Private Limited Company
Column 1- Name, address, description, occupation and signature of the Subscribers
Column 2- No. of Equity shares taken by each Subscriber
Column 3- Name, address, description, occupation and signature of the Witness
In case of Limited Liability Partnership
Column 1- Name of each partner/designated partner/nominee/nominee & designated partner
Column 2- Designation (partner/designated partner/nominee/nominee & designated partner)
Column 3- Signature of partner/designated partner/nominee/nominee & designated partner
Column 4- Name, address and profession (along with professional membership number) of witness
Column 5- Signature of Witness
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