Authorized capital in pvt. ltd. company

PLZ MADAM CLARIFY UR POSITION IN THAT COMPANY.........

Originally posted by : CA rohit swami
	PLZ MADAM CLARIFY UR POSITION IN THAT COMPANY.........

Thanks for the message. I have updated the required details in my post..

Looking for your reply.

                         THE AMOUNT WOULD BE DEPOSITED BY YOU FROM YOUR INDIVISUAL A/C TO COMPANY ACCOUNT  OR IN OTHER MODE WHAT EVER DESIRED YOU.

     IF 5 LAC IS FINISHED BY COMPANY THEN U CAN GIVE ANOTHER AMOUNT VIA LOAN . IF UR COMPANY. IS PVT. COMPANY

As a transparent system, it is advisable to go through the proper channel i.e. to deposit the whole amount of subscribed capital by subscribers from ther personal account through any mode i.e. either cash/ cheque/ NEFT etc.

But it is not compulsion to keep the whole 5 lakh in bank account rather you can also keep some money in form of cash.

The directors can not withdraw the money once it has been deposited except for company expenses.

And if the whole money is used, the further amount can be deposited by way of further issue of capital or by way of loan to the company.

Dear Ms Priya,

i do not agree with previous replies to your query.

the authorised capital is the limit to which a company can isue shares to its promoters / potential shareholders.

the shares may be issued for a consideration which may be cash or non cash item. and in that situation only the shareholder to whome the shares are allotted shall pay the agreed consideration to the company. i hope to have answered most of your concern. get in touch for further clarity on the matter

sanjeev

Dear Ms. Priya,

I agreed with the reply of Mr. Sanjeev, Authorised capital of the comapny is the maximum  limited to which company can issue shares to its memebers. So you are required to deposite the amount in bank to the extent od Paid up share capital subscribed by you. In case you said that you are 99% share holder of teh said company, so you would be required to deposite 99% of the issued and subscribed capital & not authorised capital of the  said company.

Further if you once pay company amount of capital subscribed by you, then you can not withdraw it for you personal exp.

Further if company needs more amonut it can go for further issue of shares or loan( limite to as per section 3(i)(iii)(d). 

Dear Mr. Sanjeev, i am agree with the reply givs by you that the only such amount should be dposited in bank for which the promoters or the share holders agree to subscribe or for the amount for which the shares are being issued. But as regard to query of Ms. Priya, where she said that she is the major investor i.e. 99% of the share are hel by her and has not disclosed about the paid up capital of the company, so it was assumed that the whole 5 lakh is the paid up caital and as such the whole amount should be deposited in the bank account.