Minimum capital requirements for all companies

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indira (Querist)
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31 October 2011 Dear all,

I am looking for a complete list of minimum capital requirement for various types of companies, banks, insurance etc. especially i am looking for insurance brokerage firms in india.

Thanks

Indira

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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01 November 2011 As per Insurance Regulatory and Development Authority (Insurance Brokers) Regulations, 2002.
Regulation 10. - Requirements of Capital— (1) Any applicant seeking to become an insurance broker under these regulations should satisfy the following conditions:
(i) it shall have a minimum amount of capital as mentioned below:
Category
Minimum amount (Rupees)
(a) Direct broker- Rs. 50 Lakhs
(b) Reinsurance broker- Rs. 200 Lakhs
(c) Composite broker- Rs. 250 Lakhs

(ii) the capital in the case of a company limited by shares and a cooperative society shall be in the form of equity shares ;
(iii) the capital in the case of other applicants shall be brought in cash;
(iv) the applicant shall exclusively carry on the business of an insurance broker as licensed under these regulations.

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