XYZ company incorporated on 30th October 2019 having 10 subscribers to MOA out of which 2 are p...........

Companies Act-Phase (I & II) Directors - powers and appointment

XYZ company incorporated on 30^th October, 2019, having 10 subscribers to MOA, out of which, 2 are private limited companies and remaining are individuals. There is no mention in any of the documents as to who shall be the first director of the company after incorporation. In such case the first directors of the company will be:

All the subscribers of MOA shall be the first directors of company.

Two private limited companies being subscribers to MOA shall deemed to be the first directors of company.

All individuals who are subscribers to MOA shall be deemed to be the first directors of company.

None of the above

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Explanation:

As per Section 152 of Companies Act, 2013, First directors are generally named in AOA of the Company. If they are not so named in AOA, then subscribers to MOA who are individuals shall be deemed to be the first directors of the company until the directors are duly appointed.