Shareholder blames alcohol for mistakenly subscribing company’s staggering capital
On February 27, all three shareholders of the controversial company withdrew the application for business establishment.
One of the three shareholders of a newly-established enterprise with registered capital of VND144 trillion (US$6.3 billion) said the person who filed business registration application was drunk and wrote the wrong number, Zing reported.
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On February 27, all three withdrew the application for business license.
According to records at the Business Registration Agency, a company named USC Interco was established in Hanoi on January 17 with registered capital of VND144 trillion (US$6.3 billion).
The company registers for operation in 59 lines of business with real estate being the core activity.
Located in Hoai Duc district, Hanoi, USC Interco has three shareholders, all are individuals, namely Nguyen Hoan Son with capital contribution of VND57.6 trillion (US$2.48 billion) and also director of the company, Kim Thi Phuong and Tran Gia Phong with VND43.2 trillion (US$1.86 billion) each.
Under the Law on Enterprises, shareholders have 90 days to pay in full their registered capital amount.
The law, however, prohibits case of providing untruthful information in the application for business registration or application for adjustments to business registration.
More importantly, companies that declare false registered capital, failure to contribute sufficient registered capital as declared, deliberately determine inaccurate values of contributed assets would be subject to fines from the authority.
If the company was indeed established, its registered capital would be higher than that of Vietnam’s largest mobile carrier Viettel and only behind state-owned Vietnam National Oil and Gas Group (PVN) and Electricity Vietnam (EVN).
