03 July 2011
MR. X IS A DIRECTOR OF X PVT LTD. THE CO. GOT INCORPORATED ON 18TH MARCH 2011. BUT THERE WAS NO BANK A/C OPENED IN THE NAME OF THE CO. TILL 31ST MARCH 2011. SO HOW SHOULD I SHOW THE AUTHORIZED CAPITAL OF100000? (THERE ARE TWO DIRECTORS IN THE CO. AND THE RATIO IS X- 99 AND Y- 1. IS THERE ANY PROBLEM IF I SHOW THE AUTHORIZED CAPITAL IN CASH?
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