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
shashank garg (Article ) (49 Points)
18 August 2010Dear 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
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 18 August 2010
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).
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 18 August 2010
agree with aditya maheshwari.........
CAclubindia
