Dear Members
Following are the facts for a newly incorporated P Ltd company
Date of Incorporation: 21 Apr 2008
Issue of Shares: 15 May 2008
The company has been formed as a subsidiary of an existing P Ltd Co with only two members/shareholders and started operations on Working Capital of holding company. How much money is compulsory to be received by the new company before /on allotment of shares. Please specify is application money is not compulsory.
Please help!