Share capital
This query is : Resolved
11 March 2010
Can private limited company be formed without share capital? It has only share application money at end of the year.
11 March 2010
Company can be formed without share capital
This are companies limited by Guarantee.
This are companies limited by Guarantee.
11 March 2010
Kindly visit the link below:
https://www.caclubindia.com/articles/basic-understanding-about-companies--2889.asp
https://www.caclubindia.com/articles/basic-understanding-about-companies--2889.asp
11 March 2010
Thanks for your reply
I have one more quetion on this. If private limited company incorporate on 31st March i.e. last day of accounting year as per MOA/AOA and has only share application money even that also less than 1 lac, in that case what should be done?
I have one more quetion on this. If private limited company incorporate on 31st March i.e. last day of accounting year as per MOA/AOA and has only share application money even that also less than 1 lac, in that case what should be done?
11 March 2010
Share application money is just a proposal money as liability. Without allotment of equity shares to the proposed allottee share application can not be treated as paid up capital of the company.
11 March 2010
Thanks once again. But what will be the responsibilty of the statutory auditor of the company in regards to corporate law compliances?
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