Basavaraj (B.Com FCA) (193 Points)
27 October 2016Hi,
I am incorporating a company which contains the word India in its proposed Name.
I tend to understand that if the word India is used anywhere in the name, the authorised capital of the company should be Rs. 5,00,000/-.
Apart from this is there any special approvals needed while incorporating the company.
Regards
BVM
Hem Shah
(CS Trainee)
(33 Points)
Replied 04 November 2016
Dear sir,
Your point about the share capital is correct. If the word 'India' is allowed to be used in the name of a Company, its share capital should be minimum Rs. 5 Lacs. However, if the first word of such name is 'India', the minimum share capital shall be Rs. 50 Lacs.
In addition, I believe that prior Central Government Approval is required for using 'India' in the name of a company. This is given under Section 4 of the Companies Act, 2013 read with Rule 8(6) of the Companies (Incorporation) Rules, 2014.
Hope this helps.
Thanks and Regards,
Hem Shah
Bibhishan Jha
(Accountant)
(27 Points)
Replied 15 December 2017
I am incorporating a company which contains the word India in its proposed Name
is there any special approvals needed while incorporating the company.
if yes than explian procedure for same and also please provide application letter format
CAclubindia
