Paid up capital

592 views

Save Share

Join Us Follow Us Add as Source

pallav

still a learner....

483 Points Posted on 20 July 2015

A Private Ltd was formed in March 2015. The Paid up capital was 10 Lakhs,

My query is..

1. That within how many days the amount of paid-up capital should be deposited in Company's Bank Account.

2. If the amount is still not deposited in bank,,what are the consequences of this..

Regards,,

Replies (2)

Radhika

Company Secretary

124 Points Posted on 20 July 2015

A declaration to the effect that every subscriber to the Memorandum has paid the value of the shares agreed to be taken by him should be filed with the RoC within 180 days from the date of incorporation. Otherwise, the Company will be liable to penalty upto Rs. 5000 and every officer in default shall be punishable with a fine upto Rs. 1000 for every day during which the default continues.

pallav

still a learner....

483 Points Posted on 20 July 2015

Originally posted by : Radhika
	A declaration to the effect that every subscriber to the Memorandum has paid the value of the shares agreed to be taken by him should be filed with the RoC within 180 days from the date of incorporation. Otherwise, the Company will be liable to penalty upto Rs. 5000 and every officer in default shall be punishable with a fine upto Rs. 1000 for every day during which the default continues.

thanx for the reply Radhika ,,but i wanted to know that within how much period the amount of paid-up capital should be deposited in company's bank account??