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Share capital on incorporation

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(Querist)
03 May 2017 Hello Experts,

In case of newly incorporated Pvt ltd company, can promoters contribute share capital in form of assets instead of cash?

Thanks in advance
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
05 May 2017 Yes. Securities can be allotted for consideration other than cash. -Section 62

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