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Question
Select the proper option from the options given below and rewrite the completed sentence.
The minimum amount of paid up capital for public company is ________.
Options
Five lakhs
one lakh
ten lakhs
Solution
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.
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