Nidhi Company Formation Required Minimum 5 Lac Capital although Minimum capital required is no more under co act 2013?

    Posted By : CS Shiriti / Published on : 20-Mar-2021 07:25 AM / View : 98 / Comment : 0
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    "No Minimum paid-up capital:"

    The Companies Amendment Act, 2015 has come up with an amendment that there no minimum capital requirement for starting a public limited company. the words of five lakh rupees or such higher paid-up share capital has been removed which pertains to the minimum paid up share capital of the company. So a public limited company can start its business without any amount of minimum capital restriction.

    While rule-4 (1) of NIDHI Rules, 2014 says
    (1) A Nidhi 1[Omitted] shall be a public company and shall have a minimum paid up equity share capital of five lakh rupees.

    MCA not allowing to Incorporate with 1 lac Capital while already some companies Incorporated with 1 Lac so not able to clear about the Applicability of Act or Rule which one supersede ?

    CIN U65990MH2021PLN355452
    Company Name MAHILA PARIVARTAN URBAN NIDHI LIMITED
    ROC Code RoC-Mumbai
    Registration Number 355452
    Company Category Company limited by Shares
    Company Sub Category Non-govt company
    Class of Company Public
    Authorised Capital(Rs) 500000
    Paid up Capital(Rs) 100000
    Read more on : capital required minimum under more although nidhi company formation



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