Poornima N Ramakrishna (Finance Manager) (66 Points)
05 May 2008Dear Friends,
We are registering a section 25 company in Bangalore Karnataka with Rs.1,00,000/- capital. But I heard from sources that the capital has to be Rs.50,00,000/- as the name of the company has 'Asia' as part of it. Is this true? If yes, please provide me some reference material.
Thanks in advance,
Poornima
Kumar
(Legal Consultant)
(358 Points)
Replied 05 May 2008
Dear Ms.Ramakrishna,
For adopting the key word in the proposed name as "asiatic or asia" the required authorised share capitals of the company must be 5 Cr.Please refer the Circular No.27/1/87-Cl-III,dated-13-3-1989.
Regards,
Rakesh Kumar
CA Kranthi Kumar Suryadevara
(CA)
(125 Points)
Replied 05 May 2008
Any Limited Company which ends with names such as India, Asia.... should have minimum share capital requirements as per form 1...so the company has to register for capital of Rs. 50,00,000
Poornima N Ramakrishna
(Finance Manager)
(66 Points)
Replied 05 May 2008
Dear Friends,
We are registering it as a Section 25 private limited company. Does it apply for private limited company too?
Thanks & Regards,
Poornima
Poornima N Ramakrishna
(Finance Manager)
(66 Points)
Replied 05 May 2008
Dear Rakesh,
Could you please provide me with the circular url.
Thanks
Poornima
Kumar
(Legal Consultant)
(358 Points)
Replied 05 May 2008
Dear Pornima,
Its mine pleasure while interacting with u.You are requested to vist the mca.gov.in site and am sure you will get this circular as aforesaid.Furthermore,ROC while allotting a name for your company irrespective whether it is pvt. co. or public or section 25 such condition will apply.Alternatively, you can also ckeck with the nearest ROC office.
Get back to me if you need futher clarification.
Regards,
Rakesh
E.K.Raghavendra
(Practicing Chartered Accountant)
(134 Points)
Replied 23 May 2008
This provision does not apply to Sec 25 companies.
DEEPIKA TYAGI
(Director HR)
(252 Points)
Replied 28 May 2008
DEEPIKA TYAGI
(Director HR)
(252 Points)
Replied 28 May 2008
DEEPIKA TYAGI
(Director HR)
(252 Points)
Replied 28 May 2008
Poornima N Ramakrishna
(Finance Manager)
(66 Points)
Replied 28 May 2008
Hi Deepika,
Minimum share capital for a private limited company is Rs. 1,00,000/- & Rs. 5,00,000/- for a Limited company.
DEEPIKA TYAGI
(Director HR)
(252 Points)
Replied 29 May 2008
Dear Poornima
Thanks for reply !
But I heard for Private Limited Company it can be 50,000 also.
Thanks
Deepika Tyagi
CAclubindia
