Incorporation of the company
This query is : Resolved
18 December 2013
My query is that is there any rule or provision or requirement that there should be a minimum paid up capital of Rs. 1 Lac on the date of incorporation in case of a private company? and how would the company get this minimum amount of rs. 1 Lac?
18 December 2013
Yes as per provision of Co. Act 1956 Min 1 lakh capital required for private ltd co formation and must be borne out by promoters only.
19 December 2013
sir what can be the source of this 1 Lac?
I mean from where and in what form wil the company get this amount from
I mean from where and in what form wil the company get this amount from
19 December 2013
Promoters personally have to arrange and there is no specfic requirement or diclosure of exact source to be made.
19 December 2013
will this one lac has to be part of the books of the company?
19 December 2013
yes of course as paid up capital of company by promoters.
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