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Question
Give one word / Term / phrase for each of the following statement :
The maximum amount beyond which a company is not allowed to raise funds.
The maximum amount beyond which a company is not allowed to raise funds.
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Solution
Authorised / Nominal Capital
Explanation: The maximum amount of capital beyond which a company is not allowed to raise funds is known as its authorised share capital. This capital is stated in the capital clause of the Memorandum of Association of the company at the time of its incorporation.
Explanation: The maximum amount of capital beyond which a company is not allowed to raise funds is known as its authorised share capital. This capital is stated in the capital clause of the Memorandum of Association of the company at the time of its incorporation.
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