Paid up capital Rs. 5 lacs

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Dear Members, 

Please provide me the effective date of the circular by which public companies were required to have a minimum paid up capital of Rs. 5 lacs. 

Thanks in advance 

Replies (3)

Section 3 of Companies Act

6[(3) Every private company, existing on the commencement of the Companies (Amendment) Act, 2000, with a paid-up capital of less than one lakh rupees, shall, within a period of two years from such commencement, enhance its paid-up capital to one lakh rupees.

(4) Every public company, existing on the commencement of the Companies (Amendment) Act, 2000, with a paid-up capital of less than five lakh rupees, shall within a period of two years from such commencement, enhance its paid-up capital to five lakh rupees.

Ins. by Act 53 of 2000, sec. 3 (w.e.f. 13-12-2000).

agree with aditya maheshwari.........

Thanks  for your help


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