Clarification and Answer

This query is : Resolved

CA Nitin Wadhwani (Querist)
Follow

21 August 2008 author : vvrravindra
Posted On : 8/21/2008 5:56:49 PM
Is there in time limit for payment of fee at ROC for increase in the Aut. share captail? If so pl give details,including any addtioanl fee payble or interest etc? Pl also send some ref mat in this regard.

Expert : K.Kottai Chezhiyan
Posted On : 8/21/2008 6:06:29 PM
For Increase of Authorised Capital u need to call an EGM and pass Special/ordinary resolution as the case may be.. Board Meeting is to be conducted only for approving notice and calling the EGM “RESOLVED THAT the Notice for convening the Extra-Ordinary General Meeting of the Company on ____________ be and is hereby approved and Mr.___________ or )_____________Directors of the Company be and is hereby severally authorised to sign the notice and despatch the same to the shareholders of the Company.” Board Resolution for Calling EGM Special Resolution-- to be passed at the EGM "Resolved that pursuant to sections 16, 31 and 94 and other applicable provisions, if any, of the Companies Act, 1956, the Authorised Capital of the Company be and is hereby increased from Rs. 2,00,00,000 (Rupees Two Crores) divided into 20,00,000 equity shares of Rs. 10 each to Rs. 7,50,00,000 (Rupees Seven Crores Fifty Lakhs only) divided into 75,00,000 equity shares of Rs. 10 each, ranking pari passu with the existing equity shares. Resolved further that Clause v of the Memorandum of Association of the Company be and is hereby altered to read as follows: "The Share Capital of the Company is Rs. 7,50,00,000 (Rupees Seven Crores Fifty Lakhs only) divided into 75,00,000 equity shares of Rs. 10 each. The Company has the power from time to time to increase or reduce its capital in accordance with the provisions of the Companies Act, 1956." Resolved Further that Clause 5 of the Articles of Association of the Company be and is hereby altered to read as follows: "The Share Capital of the Company is Rs. 7,50,00,000 (Rupees Seven Crores Fifty Lakhs only) divided into 75,00,000 equity shares of Rs. 10 each." Resolved Further that the Board of Directors be and are hereby authorised to do such other acts and deeds as may be necessary for giving effect to this resolution."

author : vvrravindra
Posted On : 8/21/2008 6:13:21 PM
Reply is not clear. My Q is about fee payable to ROE and related time limit

It is Clear Frm The Above Reply That Expert are Just Giving Answers For Points Sake.

Sir,
Answer To Your Question Is Follows:

Form 5 For Increase In Authorized Capital Is To be filed after 30 days of passing the special resolution

if not filed, penalty is double the fees i.e fees is 500 and 2x500=1000 if not filed in time.

CHEZHIYAN

CHEZHIYAN (Expert)
Follow

22 August 2008 I Appologize for the Above ...

While Copying i Forget the Next Paragraph...

I gona do nothing with the Points with what they Give

its NOT for the Sake of Points

CA Nitin Wadhwani

CA Nitin Wadhwani (Querist)
Follow

22 August 2008 Ok Sir I Understand It.

Upgrade to CAclubindia Pro. Subscribe Now!