29 May 2016
Requirement of Minimum Paid up Share Capital [Section 2(68) and Section 2(71)] The requirement of having a minimum paid up share capital by a company has been done away with. Hence, going forward, a private or a public company can be incorporated without the need for minimum paid up share capital of one lakh or five lakh rupees, respectively.
31 May 2016
No minimum paid up capital is required for Private as well as Public Company but for better practice it is better to start with some nominal amount of paid up capital
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