Query in Form 23AC - Private Placement

This query is : Resolved

Guest

Guest (Querist)

09 November 2009 The private limited company was incorporated with Rs.1 Lac.

Subsequently, the company has allotted shares to one of the two directors say Rs.5 Lac.

Now, the total paid up capital is Rs.6 Lacs.

I noticed in the company's first annual report - balance sheet abstract page - it is mentioned only Rs.5 Lacs as PRIVATE PLACEMENT.

Is it right or it should be Rs.6 Lacs ?

Expect the comments of the Experts'.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 November 2009 Sir
The heading being 'capital raised during the year',the figure should necessarily be Rs.6,00,000/-

CS Vandana Kacholia

CS Vandana Kacholia (Expert)
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10 November 2009 To the best of my knowledge paid up capital will be Rs. 6,00,000 but private placement will be shown Rs. 5,00,000 only in 23 AC

others views are also solicited.

Regards

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