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Failure to bring Paid up Capital

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This query is : Resolved

Mohmed Arif Shaikh (Querist)

12 October 2019 A private Limited Com by share has incorporated in the month May 2019, with Authorized Share Capital of 10 Lac and Paid up Share Capital of 5 Lac, but till date unable to bring the paid up capital of 5 Lac, what is the time limit? What is the consequences of not bringing paid up capital of 5 Lac as mentioned in MOA? Can Company reduce paid up capital in MOA? If yes then what is the procedure to reduce the paid up capital in MOA?.... Appreciate your valuable reply.

CA. Ankit Jain

CA. Ankit Jain (Expert)

14 October 2019 There is time limit of 6 months for subscribing paid up capital.
Also you need to file form INC 20A for the same.

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