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Private Co. a...

Question

Private Co. and Public Co. must have a minimum Paid-Up Capital respectively of _______________.

A

R s . 1 L a k h

and

R s . 2 L a k h s

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B

R s . 3 L a k h s

and

R s . 5 L a k h s

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C

R s . 2 L a k h s

and

R s . 3 L a k h s

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D

None of the above

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Solution

The correct option is B None of the above
According to the Companies Act 2013, Private Co. must have a minimum paid-up capital of Rs. 1 Lakh. However, the minimum paid-up capital for Public Co. must be Rs. 5 Lakhs. These provisions meant that Rs 1 lakh and 5 lakh worth of money must be invested in order to start a business by the company. Ths investment is in the form of shares.
Thus, the correct answer is D.

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