12 February 2017
Egm was held on 24 th Jan for increasing authorised capital , And the form sh 7 was filed yesterday 11th February. Can I start the process of share issue from 25 th Jan or do I need to start after receiving approval letter from Mca for the form SH7. Because as per the description of Form SH7 - It is a notice to roc for increase in share capital. Thanks in advance.
13 February 2017
No need to wait for approval of Form SH-7. As you have already increased the Authorised Share Capital on 24th Jan. you can issue and allot the shares on 25th jan.
However note that you will not be able to file PAS-3 for allotment of shares unless form SH-7 is approved by ROC and reflected in Company Master Data.
CAclubindia
