Paid up capital related issue ( pvt ltd )
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2015
I registered a Private Limited company back in March. I am from a small town and my CA had no experience with registering a Pvt Ltd company.
Although I did read all the rules/acts to best of my capabilities , I think I made a mistake regarding paid up capital.
I registered company's paid up capital as Rs 2,00,000 but in MoA , I only declared capital of Rs 8,000 as shares of first subscribers.
We have not done any business yet and I will distribute shares to other members and get the money (Rs 2,00,000/-) before we commence our first project.
Can you tell me if I am in any sort of trouble w.r.t. said issue or will it be fine as no official transaction or business has taken place.
Although I did read all the rules/acts to best of my capabilities , I think I made a mistake regarding paid up capital.
I registered company's paid up capital as Rs 2,00,000 but in MoA , I only declared capital of Rs 8,000 as shares of first subscribers.
We have not done any business yet and I will distribute shares to other members and get the money (Rs 2,00,000/-) before we commence our first project.
Can you tell me if I am in any sort of trouble w.r.t. said issue or will it be fine as no official transaction or business has taken place.
24 July 2015
You may issue shares for Rs.92,000 (being the minimum paid up capital as per law prevailing at the time of incorporation as reduced by the subscribed capital Rs. 8,000) and file e-form PAS-3 with the ROC. Then e-file INC-21 (though now withdrawn) which has to be filed with in 180 days of incorporation as per the law prevailing in March.
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 July 2015
How do I file INC-21 , it has been removed from the MCA website's download page?
25 July 2015
You are not required to file Form INC-21 now. There won't be any non-compliance if you have not filed it earlier.
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