can equity capital be introduced in cash in a pvt ltd. co. amt Rs. 400000/-.
or if not can it be considered as a loan.
CA Sandeep Lahoti (Manager-Accounts & Finance) (37 Points)
16 May 2013can equity capital be introduced in cash in a pvt ltd. co. amt Rs. 400000/-.
or if not can it be considered as a loan.
AMIT KUMAR JAIN
(CA)
(94 Points)
Replied 16 May 2013
Yes, Equity Capital cab be introduced in cash. You need to file Form 2 Return of Allottment with MCA.
Secondly, you cannot give a loan to any person exceeding Rs.20,000/- in cash.
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