Bench: S.SUJATHA,VINEET KOTHARI
253 These 5 partners who became the shareholders of the successor company were however, allotted only 1210 equity shares of Rs.10/- each on 01.05.1999 and remaining shares were allotted to them subsequently in a phased manner. The first allotment came to the extent of 50 equity shares of Rs.10/- each by subscribing to the Memorandum of Association of the Date