Dear Members,
IS there any minimum authorized capital required for a company incorporated to deal in forign exchange and tours and travel for Private or Public both
Regards,
mayuri lal.....
5 Replies
CA Sandeep Kumar
(Audit Assistant)
(804 Points)
Replied 08 January 2011
Nothing as such, i haven't come across anything like that. Provisions of company law - 1lakh paid up w.r.t pvt ltd co., 5lakhs w.r.t public ltd co.,
HARDIK
(COMPANY SECRETARY NCFM (Corporate Governance ))
(664 Points)
Replied 08 January 2011
Hi no such capital requirement. however dealing in forex as a dealer you have to registered with RBI.
sameera
(student)
(61 Points)
Replied 08 January 2011
yes, there is no specific requirement from companies act point of view.
but it wants to deal in FE RBI may impose specific requirement in the form of Specific requirement for networth of the company which should be checked
bye
Jayashree S Iyer
(Company Secretary)
(3224 Points)
Replied 10 January 2011
For dealing in foreign exchange you have to obtain RBI permission.
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