Hi
How much the authorised capital for " xxxxxx corporates limited" or "xxxxxxxxx corporates private limited"
Ajay Mishra
(Company Secretary)
(74337 Points)
Replied 24 September 2010
Dear Friend
As per Circular No. 27/1/87/CL.III, dated 13.03.1989 the guidelines issued by MCA for using the name of the company. For using corporation in the proposed name whether it will be public company or private company the minimum authorised capital should be Rupees 5 Crores.
Regards
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 24 September 2010
It depends on the key words used in the name of Company and not on whether the company would be private of public:-
The minimum Authorised capital would be as under:-
|
Key words in the Name of a Company |
Minimum Authorised Capital Required |
|
Corporation |
5 Crores |
|
International, Globe, Global , Universal, Universe, Continental, Inter- Continental, Asiatic, Asia, Asian, World Being the first part of the name |
1 Crore
|
|
Hindustan, Hindustani, Hindustanee, India, Indian, Bharat, Bharatati, Bharatiya, Bharateeya Being the first word of the name |
50 Lacs |
|
If any of the key words as above is used within the name(with or without brackets) |
5 Lacs
|
|
Industries, Udyog, Industrial, Industry |
1 Crore |
|
Enterprises, Enterprise, Products, Product Business, Manufacturing, Manufacture |
10 Lacs |
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 24 September 2010
Find attachment for your reference....
Saurabh
(Manager Operations)
(21 Points)
Replied 27 September 2010
Dear All,
I want to run microfinance business in corporate entity. Please suggest to my queries.
Query 1 : I have
1. capital is only 25 lakhs.
2. want to take funds from investors, PE(private equity) players as well as banks.
3. I want to lend to my clients for term less than 1 year.
Please tell what kind of company should be best A Pvt. Ltd., Ltd. , Sec25 or LLP.
Query 2 : How much Authorized capital is needed if I want to register a
1. XXXXXX Microfinance Pvt Ltd.
2. XXXXXX Pvt. Ltd.
3. XXXXXX (Sec 25 Company)
4. XXXXXX (LLP)
Query 3 : Do microfinance in the name of company or has some relation with the capital.
Query 4 : Can a company in any form lend to its clients without getting taking NBFC certificate.
Query 5 : Can I get a NBFC certificate of a company which is going to close in 1 or 2 lakhs as came to know that RBI not charge for issuing NBFC certificate, but capital norms are there. Old companies need only 25 lakhs as capital while new need 2 crore.
Query 6: Authorised capital for NBFC can be shown including assets of directors or liquid money in bank deposit only.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
CAclubindia
