priyanka (company law consultant) (43 Points)
26 April 2011Dear All ,
can any body help me what is the minimum authorised capital required to form a pvt ltd. co for doing the business as a commodity broker
CS Shivi Reddy
(COMPANY SECRETARY)
(175 Points)
Replied 26 April 2011
Dear Priyanka,
Every Pvt. Ltd. Company to be formed shall have a minimum authorised capital of Rs. 1,00,000
Regards
Shivi
priyanka
(company law consultant)
(43 Points)
Replied 26 April 2011
thanks , but i want to know is there any specific authorised capital required for a company to do the business as commodity broker
CS Shivi Reddy
(COMPANY SECRETARY)
(175 Points)
Replied 26 April 2011
There is no such requirement as specific authorised capital for doing commodity broker business as such.
SkDash
(CS (Member) CWA (Final))
(909 Points)
Replied 26 April 2011
Dont agree.
Priyanka- Min paid up capital should be Rs 1 lk and for min Auth Capital, pl follow name availability guideline. Min Auth Capital will depend on the name you will use and it is not depending upon the business you are doing.
CS Ankur Srivastava
(Company Secretary & Compliance Officer)
(17853 Points)
Replied 26 April 2011
|
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 |
CS Shivi Reddy
(COMPANY SECRETARY)
(175 Points)
Replied 26 April 2011
I think the question was the minimum authorised capital required for a pvt. co. doing commodity broker business.
The name of the Co. to be formed also effects the authorised capital but its a different issue.
Regards
Shivi
priyanka
(company law consultant)
(43 Points)
Replied 26 April 2011
Thanks for reply,
i will use the word "Commodity " in the name, now can any body please suggest me wat is the minimum authorised capital required
CS Shivi Reddy
(COMPANY SECRETARY)
(175 Points)
Replied 26 April 2011
den the minimum authorised capital is 1 lacs
Abhijit Rane
(COMPANY SECRETARY)
(178 Points)
Replied 26 April 2011
Hi Priyanka
Your Minimum authorised Capital shall be Rs. 10,00,000/-
You may still continue with the business with only 1,00,000/- as your paid up capital.
Regards
Abhijit
SANTOSH SHAH
(Company Secretary)
(754 Points)
Replied 26 April 2011
| Originally posted by : Santosh | ||
 |
Dont agree. Priyanka- Min paid up capital should be Rs 1 lk and for min Auth Capital, pl follow name availability guideline. Min Auth Capital will depend on the name you will use and it is not depending upon the business you are doing. |
 |
Agreed with Santosh view.
Hello Mr. Ankur / Other members
To bring to your kind notice, that as per latest mca update on name availability rules,
following words of company will have the authorised capital as follows :-
| S.No | Key Words | Required authorized capital (in Rs.) |
| 1 | Corporation, corp, corpn, corp. | 25 crore |
| 2 | international, Globe, Global, World, Overseas, Universe, Universal, Continent, Continental, InterContinental, Asiatic, Asia, Asian being the first word of the name | 5 crore |
| 3 | If any of the words at (2) above is used within the name (with or without brackets) | 2 crore |
| 4 | Hindustan, India, Indo, Indian, Bharat, Bharatvarsh, Bhartiya or any other country’s name being first word of the name | 2 crore |
| 5 | If any of the words at (4) above is used within the name (with or without brackets) | 25 lakh |
| 6 | Industries/ Udyog | 5 crore |
| 7 | Enterprises, Products, Business, Manufacturing, Venture. | 50 lakh |
Please take note of the same.
regards
Santosh Shah
SkDash
(CS (Member) CWA (Final))
(909 Points)
Replied 26 April 2011
SANTOSH SHAH
(Company Secretary)
(754 Points)
Replied 26 April 2011
| Originally posted by : Santosh | ||
|
|
One should go for public interest litigation (PIL) challenging the name availability guideline issued by MCA and RoCs are forcing others to keep the Auth Cap as mentioned therein. there is nothing logic behind this guideline and they are only insisting to generate the revenue (stamp duty) upfront at the time of incorporation. Are u with me guys ? |
|
Agree to you.
regards
Santosh Shah
Abhijit Rane
(COMPANY SECRETARY)
(178 Points)
Replied 26 April 2011
As clear from priyankas earlier msg it is quite clear that she wants to use the word commodity in her name. and the word commodity is synonymous to the word product. i think it shuld be 1000000/-. anyways priyanka take the opinion of the concerned ROC. he may guide you better.
CAclubindia
