Can a Company have 100% paid up capital in Notional Form i.e. other than in monetary term?
MOHAN AGRAWAL (Practice) (100 Points)
06 June 2011Can a Company have 100% paid up capital in Notional Form i.e. other than in monetary term?
ankit jain
(CS trainee)
(152 Points)
Replied 07 June 2011
Dear Mohan,
Yes, a company can do so. In actual, Company law is silent about this, but it permits to issue the shares for consideration other than cash.
Any other views highly appreciated.
CAclubindia
