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

Answer 1

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.