Share Capital

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CELINE GEORGE (Querist)
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27 November 2010 Can paid up capital of an incorporated company be nil? If so is filing of annual return necessary?

A company was incorporated in the FY 2008-09 with authorized capital Rs 5,00,000/- but paid up capital has been nil since then. Is it a violation of the Companies Act, 1956? If not, is filing of Annual Return compulsory even if paid up capital is nil.

Ajay Mishra

Ajay Mishra (Expert)
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27 November 2010 Hi

Please check Form 1 filed with ROC at the time of Incorporation of the company for verification of paid up capital of the company.

In case of company not having share capital will file Annual Return in Form 21A in accordance with Section 160 of the Companies Act, 1956.

Regards

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