Authorised capital for a investment company(Private Limited)

This query is : Open

pradnya (Querist)
Follow

12 March 2011 I have submitted Form 1A for name approval(Investment company-private ltd) but it is rejected saying that
1.required authorised capital should be 2 crore & not 1 Lac,
also
2. significance of the key word not mentioned

Will anybody please suggest me proper guidelines which can help me to resubmit the form?
Thanks in advance!

CA KRISHNA KUMAR DARUKA

CA KRISHNA KUMAR DARUKA (Expert)
Follow

14 March 2011 An investment company is a NBFC under RBI act and it must have minimum net owned funds of 2 crores before starting business. Therefore, the ROC is asking for authorised capital of 2 crores.

As regards significance of key word you have to explain the same in Form 1A or I will suggest you to meet ROC officials to get the matter clarified and resolved.

Message likes : 1 times

pradnya

pradnya (Querist)
Follow

15 March 2011 Sir,actually the main object is to form a company which will be holding company for 8-10 private companies.The said company will never become NBFC in future.

Financial consultancy is also other objective.

Will you please suggest me how to frame main object with aforesaid background in Form 1A so that ROC will approval the company with 1 Lac capital.

Thanks!

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now