Question
Maximum paid up capital in case of public company
Solution
Companies Act Section 2(71)"public company" means a company which--(a) is not a private company; and (b) has a minimum paid-up share capital as may be prescribed: Provided that a company which is a subsidiary of a company, not being a private company, shall be deemed to be public company for the purposes of this Act even where such subsidiary company continues to be a private company in its articles.
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