Bank a/c

This query is : Resolved

Guest

Guest (Querist)

23 August 2013 Sir,
after getting Certificate of Incorporation in case of private limited company

to open bank a/c

How much the company needs to deposit in its a/c.

viz. Paid up capital is Rs.1 lac , whether entire 1 lac is to be credited in its a/c or less than that.

Ajay Mishra

Ajay Mishra (Expert)
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23 August 2013 Hi

There is no minimum criteria of having in account.

The paid up capital is not necessary that should be deposited in bank, you can have less than that.

Ajay Mishra

Ajay Mishra (Expert)
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23 August 2013
In accordance with the provisions of section 36(2) of the Companies Act, 1956, all money payable by any member to the company under the MOA or AOA shall be debt due from him to the company. Further, a subscriber to the memorandum must pay for his shares in cash even if the promoters have promised him the shares for services rendered in connection with the promotion of the company.

Guest

Guest (Querist)

23 August 2013 AJay Bhaiya

there is Private limited company,

2 directors are there and the same are the share holders.

they are the promoters.

Paid up capital Rs.1 lac

then should they pay Rs. 1 lac to open bank a/c

or less amount will be acceptable for such opening

Ajay Mishra

Ajay Mishra (Expert)
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23 August 2013 It is not mandatory that a/c should be open with one lac, the pre incorporation expenses you can paid therefrom.

So, if you want to open with 1 lac you can open.

Guest

Guest (Querist)

24 August 2013 okay Ajay Bhaiya thanks

Ajay Mishra

Ajay Mishra (Expert)
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24 August 2013 My pleasure...........

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