Name availability

This query is : Resolved

Iqbal Singh Grover (Querist)
Follow

31 January 2012 A person wants to incorporate a company.. He wants to use the word 'Universal' in the name..

What should be the minimum authorized capital ?
I read somewhere that as per the new guidelines on name availability, the minimum authorized capital for all private companies is Rs.One lacs.. There is no specific information on use of words like 'universal, Hindustan, Industries, Udyog' etc..

CA Prashant Gupta

CA Prashant Gupta (Expert)
Follow

31 January 2012 There no specific requirement for these names.
Yes, minimum authorise capital is 1 lacs.

Jiten Gupta

Jiten Gupta (Expert)
Follow

01 February 2012 Yes by the following Circular, MCA does not specify any ASC for specific Name..

http://www.mca.gov.in/Ministry/pdf/Circular_45-2011_08july2011.pdf

Regards

Upgrade to CAclubindia Pro. Subscribe Now!

Charu Srivastava

Charu Srivastava (Expert)
Follow

01 February 2012 Those requirement has been done away with through the introduction of circular mentioned by Jitendra

Iqbal Singh Grover

Iqbal Singh Grover (Querist)
Follow

02 February 2012 http://www.mca.gov.in/Ministry/pdf/Companies_rules_15Mar2011.pdf

In these guidelines, that ASC clause is there..

Jiten Gupta

Jiten Gupta (Expert)
Follow

03 February 2012 Guidelines provided by you are old. Refer new guidelines mentioned in link posted by me.

CA Archit Grover

CA Archit Grover (Expert)
Follow

04 February 2012 Iqbal- i have checked, there is no need of authorised capital being 5 crores. So a company can be incorporated with Rs. 1 lac capital.