I joined a new Company which is a private limited but having capital of 15 crores.Please suggest that wheher the Company will have all the liabilties same as the Limited Company because it has such high paid up capital or will enjoy the privilege of Private Company?
2 Replies
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 24 July 2013
Hi Priya,
Congratulations on joining a new company. Your company will enjoy all the privileges of a private company irrespective of its size. However, Section 383A for mandatory appointment of wholetime CS will become applicable to you since the paid-up capital is more than Rs.5 crores.
Thanks
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