Number of Director and shareholders in Limited company?

Question

I want to be incorporate a limited company. I read that 3 director and 4 promoter required for incorporation of limited company. My query :

1. Is it compulsory name of 4 promoter mention while filing o f form 1A for approval of name of company?

2. Is it compulsory promoter become shareholder of company after approval of name.?

Answer 1

As per Section 3 of Companies Act, 2013, the minimum number of subscribers to memorandum should be 7 for Public Limited Company. It is necessary to fill the particulars of each subscriber to memorandum while filing form for name approval. And, it is now mandatory to provide Identity Proof and Address Proof and Verification of specimen signatures by Bank/ Notary by each subscriber.