21 June 2014
We Have To Raise authorised capital of the company. articles of association of company contains Clause"The Authorized Share Capital of the company shall be such as is mentioned in clause V of the Memorandum of Association from time to time". How to alter MOA? Is it required to attach explanatory statement along with the notice of EGM?
21 June 2014
Authorized Capital in Clause V can be changed in MOA by mentioning the new number of shares and value and each share value. You are required to file explanatory statement also while filing form 23 and form 5 (old forms) with ROC. Thanks, Ravi & Sreenivasa Chartered Accountants Partner Hyderabad
21 June 2014
Explanatory statement contains the purpose of change of authorized capital. The company need to give an explanation why the company would like to change the authorized capital.
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