https://www.taxtmi.com/forum/issue?id=119780 Non receipt of subscription money at incorporation prevents lawful commencement of business because INC 20A requires full payment; forfeiture is a post issuance remedy and is not the standard route for unpaid subscriptions at incorporation. The company should withhold issuance or rescind allotment until payment, replace the defaulting subscriber or reissue shares to paying persons, and pursue contractual remedies if appropriate, ensuring compliance with the Articles of Association and statutory commencement requirements before filing the declaration to commence business. en-us Tue, 25 Mar 2025 21:10:19 +0530 Tue, 25 Mar 2025 21:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119780 Non receipt of subscription money at incorporation prevents lawful commencement of business because INC 20A requires full payment; forfeiture is a post issuance remedy and is not the standard route for unpaid subscriptions at incorporation. The company should withhold issuance or rescind allotment until payment, replace the defaulting subscriber or reissue shares to paying persons, and pursue contractual remedies if appropriate, ensuring compliance with the Articles of Association and statutory commencement requirements before filing the declaration to commence business. Discussion-Forum Companies Law Tue, 25 Mar 2025 21:10:19 +0530 https://www.taxtmi.com/forum/issue?id=119780