minimum capital to form a new private co.?
(Guest)
Is there any requirement for minimum capital to convert prop. firm to private co.?
11 Replies
Rahul Gupta
(Project Controller ACA MBA(Fin.))
(8019 Points)
Replied 08 June 2010
The private company can be started with a minimum capital of Rs1,00,000 with a minimum of two directors.
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 08 June 2010
A public company can be started with a minimum paid up capital of Rs. 500,000 with a minimum of three directors and seven shareholders.
Nitin Grover
(CS)
(1228 Points)
Replied 08 June 2010
Dear Rohit
As per Section 3(1)(iii) and 3((1)(iv)
min paid up share capital is Rs 1,00,000 for Private Companies
Rs. 5,00,000 for public companies
Regards
Rahul Gupta
(Project Controller ACA MBA(Fin.))
(8019 Points)
Replied 08 June 2010
The provision are in section 3,
Also, for public company the minimum amount is 5 Lacs.
Also check the following article written by one of our friend . It will help you a lot >
/articles/comparison-of-pvt-vs-public-company-2319.asp
Regards
Nitin Grover
(CS)
(1228 Points)
Replied 08 June 2010
and also minimum 2 director and 2 members in private company
in Public 3 director and 7 members
Regards
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 09 June 2010
Trust my reply through PM suits you.
Revert if there is any doubt.
V.Ganapathy Subramanian
(Dy Manager Accounts)
(62 Points)
Replied 10 June 2010
Minium Limits Pvt co Public co
Share Capital 1 lac 5 lac
Directors 2 3
Share Holders 2 7
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