Question

Central Government has prescribed that public companies with paid up share capital of ____________; or turnover of ____________; or in aggregate, outstanding loans/ borrowings/ debentures/ deposits/ exceeding ___________ as on the last date of latest audited financial statements mentioned below shall also have at least ________ as independent directors.

• A. Rs.1 crore or more; Rs.10 crore or more; Rs.50 crore or more; 2 directors
• B. Rs.10 crore or more; Rs.100 crore or more; Rs.50 crore or more; 2 directors
• C. Rs.20 crore or more; Rs.150 crore or more; Rs.100 crore or more; 3 directors
• D. Rs.100 crore or more; Rs.1,000 crore or more; Rs.500 crore or more; 3 directors

Answer 1

Answer: (B)

Rs.10 crore or more; Rs.100 crore or more; Rs.50 crore or more; 2 directors

The Companies Act, 2013 defied a Public Limited Company as a private company means a company having a minimum paid-up share capital of one lakh rupees or such higher paid-up share capital as may be prescribed.Hence, a public limited company can also be started without a minimum capital of rupees five lakhs.

Rs.10 crore or more; Rs.100 crore or more; Rs.50 crore or more; 2 directors.