03 December 2015
I incorporated a pet ltd company with 1 lac as authorised capital and Rs 2000 as the issued capital. This is allowed as per latest company law.
We wanted to issue 100 shares of face value Rs 10/- to each of the 2 founders aggregating to Rs 2000/- of issued capital. This is clearly stated ins AOA/MOA however ROC put the face value of Rs 500/- instead of Rs 10/- and issued 100 shares each amounting to issued capital of 1 lac instead of Rs 2000.
The AOA/MOA still shows face value as Rs 10/- but shows Rs 500/- as face value in ROC.
How can I get this fixed? Is it possible to find an amendment request with ROC for this?
07 December 2015
As far as I know, even though MCA has amended provisions which has removed the minimum limit of sharecapital of 1Lac, MCA system does not allow to fill up the forms with capital of less than Rs 1Lac. I really doubt how could you file the Form with Rs 2000 as share capital.
Please verify the details which you have put in Form INC-7 before incorporation.
CAclubindia
