Paid up, subscribed and authorised capital
This query is : Resolved
31 March 2010
The Authorised capital of the company is Rs 1,00,000(Private Company).
In MOA, two subscriber decided to subscribe with 100 shares each. i.e. 200 shares of Rs 10 each. Will this do for forming a company?
Why is it contradictory that minimum paid up capital is Rs 1 lac in case of private company but also it is said that subscriber should take atleast one share.
In MOA, two subscriber decided to subscribe with 100 shares each. i.e. 200 shares of Rs 10 each. Will this do for forming a company?
Why is it contradictory that minimum paid up capital is Rs 1 lac in case of private company but also it is said that subscriber should take atleast one share.
31 March 2010
Dear Bhakti,
Kindly appreciate at least one share u/s 13(4)(b) means minimum one share. Section does not restrict the subscriber to subscribe share in excess of 1 share.
Total subscribed capital should be 1 lac from the very beginning. There is o contradiction in law.
Revert if there is any doubt.
Kindly appreciate at least one share u/s 13(4)(b) means minimum one share. Section does not restrict the subscriber to subscribe share in excess of 1 share.
Total subscribed capital should be 1 lac from the very beginning. There is o contradiction in law.
Revert if there is any doubt.
31 March 2010
But what if the subscriber willing to keep the shares minimum at the time of subscription to MOA and AOA? As i mentioned in my case above. Cant they increase the same once the company is incorporated. ?
Agreed there is no maximum limit for subscription but since minimum limit is there i can keep anything just above the minimum.and not upto 1 lac. Then?
Agreed there is no maximum limit for subscription but since minimum limit is there i can keep anything just above the minimum.and not upto 1 lac. Then?
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