{"id":8134,"date":"2024-08-07T11:45:39","date_gmt":"2024-08-07T03:45:39","guid":{"rendered":"http:\/\/www.biztreemgmt.com\/wordpress\/?p=8134"},"modified":"2024-08-07T11:46:54","modified_gmt":"2024-08-07T03:46:54","slug":"can-agreed-paid-up-amount-not-deposit-into-company-account","status":"publish","type":"post","link":"http:\/\/www.biztreemgmt.com\/wordpress\/can-agreed-paid-up-amount-not-deposit-into-company-account\/","title":{"rendered":"Can agreed paid up amount NOT deposit into company account ?"},"content":{"rendered":"\n<p>Client situation<br><br>To tender a project, especially one related to social responsibility such as a playground or hawker centre, your company&#8217;s financial status must be strong and it can significantly enhance your bid.<br><br>Mr. Ravi&#8217;s company needed to increase its share capital to $1 million, requiring an additional $500,000 in new paid-up capital. To secure the opportunities, a resolution was passed, and the company secretary lodged it with ACRA.<br><br>A recent business profile shows the number of shares and paid-up capital is up to 1 million. He used this to tender for a project and was successful.<br><br>During the process, the project encountered issues, and the company was unable to provide a solution or bear the penalties.<br><br>At the end, company been caught because failing to deposit $500,000 into Company bank account .<br><br>Company director was fined.<br><br>It is an offence under section 401(2A)(a) to lodge any document with ACRA knowing that document to be false or misleading in a material aspect .<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Client situation To tender a project, especially one related to social responsibility such as a playground or hawker centre, your company&#8217;s financial status must be strong and it can significantly enhance your bid. Mr. Ravi&#8217;s company needed to increase its share capital to $1 million, requiring an additional $500,000 in new paid-up capital. To secure<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[395,269],"tags":[467,116],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>company paid up; paid up capital; what is paid up capital<\/title>\n<meta name=\"description\" content=\"We all know to be recognized as company member we need to fund in agreed amount into company. Are we allowed not to do so ?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.biztreemgmt.com\/wordpress\/can-agreed-paid-up-amount-not-deposit-into-company-account\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"company paid up; paid up capital; what is paid up capital\" \/>\n<meta property=\"og:description\" content=\"We all know to be recognized as company member we need to fund in agreed amount into company. Are we allowed not to do so ?\" \/>\n<meta property=\"og:url\" content=\"http:\/\/www.biztreemgmt.com\/wordpress\/can-agreed-paid-up-amount-not-deposit-into-company-account\/\" \/>\n<meta property=\"og:site_name\" content=\"Biztree Management\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-07T03:45:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-07T03:46:54+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"http:\/\/www.biztreemgmt.com\/wordpress\/#organization\",\"name\":\"biztree management pte ltd\",\"url\":\"http:\/\/www.biztreemgmt.com\/wordpress\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"http:\/\/www.biztreemgmt.com\/wordpress\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2022\/02\/BizTree_Logo_200.png\",\"contentUrl\":\"http:\/\/www.biztreemgmt.com\/wordpress\/wp-content\/uploads\/2022\/02\/BizTree_Logo_200.png\",\"width\":200,\"height\":200,\"caption\":\"biztree management pte ltd\"},\"image\":{\"@id\":\"http:\/\/www.biztreemgmt.com\/wordpress\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/www.biztreemgmt.com\/wordpress\/#website\",\"url\":\"http:\/\/www.biztreemgmt.com\/wordpress\/\",\"name\":\"Biztree Management\",\"description\":\"Got question ? 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