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Paid up capital Rs. 5 lacs

shashank garg (Article ) (49 Points)

18 August 2010

Dear Members,

Please provide me the effective date of the circular by which public companies were required to have a minimum paid up capital of Rs. 5 lacs.

Thanks in advance

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3 Replies

Aditya Maheshwari (CA in Practice) (35867 Points)
Replied 18 August 2010

^{Section 3 of Companies Act}

⁶[(3) Every private company, existing on the commencement of the Companies (Amendment) Act, 2000, with a paid-up capital of less than one lakh rupees, shall, within a period of two years from such commencement, enhance its paid-up capital to one lakh rupees.

(4) Every public company, existing on the commencement of the Companies (Amendment) Act, 2000, with a paid-up capital of less than five lakh rupees, shall within a period of two years from such commencement, enhance its paid-up capital to five lakh rupees.

Ins. by Act 53 of 2000, sec. 3 (w.e.f. 13-12-2000).