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Capital introducted by cash in pvt ltd company

Pvt ltd 730 views 1 replies

M.Shanmugasundaram

Accounts

234 Points Joined July 2010

Dear Sir,

My friends (4Nos) like to start a private limited company. Total capital decided to Rs.4,00,000/-

First Person giving his own furniture for office use (value Rs.1,00,000/-).

Second person giving cash rs.1,00,000/- for capital

Third person giving cheque Rs.1,00,000/- for capital

Fourth person not giving any value. Only working person.

It's correct ? Or only capital introduced by cheque or DD ?

Please confirm me for methods of Capital introduce (Like cash, cheque, building, furniture)

Plz help me.

Regards,

M.Shanmugasundaram

Replies (1)

Radhika

Company Secretary

303 Points Joined April 2012

Sir,

Authorized Share Capital and Paid-up Share Capital that is mentioned in the incorporation forms will be considered as the capital of the Company and will appear in the master data of the Company.

In the subscripttion sheet of Memorandum of Association, number of shares subscribed by each promoter should be mentioned and the total should be equal to the paid-up share capital. This amount should be deposited in the Company's current account.

Capital in kind will not be considered as paid-up capital.