Section 5(2) in The Madhya Pradesh State Warehousing Corporation (Apportionment of assets, rights and liabilities) Order, 2006
(2)Madhya Pradesh Warehousing and Logistics Corporation and Chattisgarh State Warehousing Corporation would issue the shares of the face value of Rs. 1 crore each to be contributed both the shareholders namely the respective State Government and the Central Warehousing Corporation on 50:50 basis, in the first instance, against the authorized capital of the respective State Warehousing Corporation to be Rs.2 crore. In other words, Central Warehousing Corporation would be contributing Rs.50 lakh each to the equity of the two newly created Warehousing Corporations in the first instance, on the formation of the two new State Warehousing Corporations.
