Question

Select the proper option from the options given below and rewrite the completed sentences.

The minimum amount of paid up capital for public company is ________.
(a) Five lakhs
(b) one lakh
(c) ten lakhs

Answer 1

Correct option- a
The minimum amount of paid up capital for public company is five lakhs.
Explanation:
According to Section 3(I)(4) of the Companies Act 1956, the minimum amount of paid-up capital for a public company is five lakhs. Whereas, it is 1 lakh in case of private company.