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.
CAclubindia
