Starting up a company
This query is : Resolved
14 May 2012
Sir,
to start a pvt ltd company there is a need of minimum authorized capital of INR 100000.
Does this mean INR 100000 as cash.
Should I keep this much money in my hand or at bank to set up a company?
Is it a must for register under shop and establishment Act as part of registering a company if the main object is to provide consultancy services?
to start a pvt ltd company there is a need of minimum authorized capital of INR 100000.
Does this mean INR 100000 as cash.
Should I keep this much money in my hand or at bank to set up a company?
Is it a must for register under shop and establishment Act as part of registering a company if the main object is to provide consultancy services?
14 May 2012
Dear Sooraj,
Any private company must fulfill the minimum criteria to incorporate a new company under the Companies Act, 1956.
You can open a bank account and keep the money in bank or otherwise you can keep the money in cash itself. But you should open a bank account after the incorporation. Within one month you should bring the subscribed share capital into the business i.e. company's account.
Any private company must fulfill the minimum criteria to incorporate a new company under the Companies Act, 1956.
You can open a bank account and keep the money in bank or otherwise you can keep the money in cash itself. But you should open a bank account after the incorporation. Within one month you should bring the subscribed share capital into the business i.e. company's account.
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