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Mohammad Arshad

Build Better Faster ...ย โ€ขย 2m

Need Help on a Paid-Up Capital vs Initial Deposit Confusion Hi everyone! Iโ€™ve just incorporated my private limited startup and Iโ€™m in the process of opening our company current account. The bank (Kotak Mahindra) requires a mandatory initial deposit of โ‚น2,00,000 to activate the current account. However, as per our MCA incorporation documents, our declared paid-up capital is only โ‚น1,00,000 (โ‚น50K each from two founders). ๐Ÿ” My question is: If I deposit โ‚น2L first (as required by the bank), will that conflict with the requirement to show the โ‚น1L paid-up capital? Can I still transfer โ‚น50K + โ‚น50K after that and treat it as paid-up capital โ€” even though it won't be the first transaction? Also, how should the initial โ‚น2L be recorded in the books โ€” director loan? advance? Would love clarity from anyone whoโ€™s dealt with this! Thanks in advance ๐Ÿ™

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