Minimum paid up capital
This query is : Resolved
10 March 2017
A company in corporated in august 2016 has yet not introduced the paid up capital. Is it necessary to invest the capital as mentioned in moa by the subscribers? Please give reference of particular section/rules.
Thanks in advance
16 March 2017
Yes Nikhar, subscribers to the MOA are required to take respective shares in the first board meeting.
Section 56 of the Act stipulates that the company is supposed to issue share certificates to subscribers to memorandum within two months of incorporation which casts a responsibility upon subscribers to make the payment for the shares subscribed by them within two months.
Section 56 of the Act stipulates that the company is supposed to issue share certificates to subscribers to memorandum within two months of incorporation which casts a responsibility upon subscribers to make the payment for the shares subscribed by them within two months.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- Confusion around Form 26QB fields
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- GST Regis.
- Disallowance of Section 43B(h) to sez units
- As per schedule III of balance sheet how to pass journal entry
- Is correct way to find out capital of individual on 31st March
- Individual capital equal to which assets of balance sheet
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
