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Companies act, 1956

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Querist : Anonymous

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Querist : Anonymous (Querist)
10 July 2012 minimum paid up capitla of a private limited company should be Rs. 100,000. can anybody tell from which date this limit of Rs. 100000 came into force?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
10 July 2012 From 13th December 2000.

Sub-section (3) of section 3 of the Companies Act, 1956 required every private company, existing on the commencement of the Companies (Amendment) Act, 2000, i.e. on December 13, 2000, with a paid up capital of less then Rs. 1 lakh to enhance its paid up capital to Rs. 1 lakh, within a period of two years, i.e. by December 12, 2002. Similarly every existing Public Company having paid up capital less then Rs. 5 lakh as on December 13, 2000 was required to enhance its paid up capital to Rs. 5 lakh by December 12, 2000 in terms of sub-section (4) of Section 3 of the Companies Act, 1956.
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