13 September 2008
whether a pvt co which has 1 crore as authoised capital can have 2 crores as share application money and file the return to roc. what is the time limit for allotment of such shares
15 September 2008
The Authorised Capital is always given in the Memorandum of the company. It is is the maximum amount of capital a company is authorised to raise from the public.
A company may, however, accept share application money in excess of the authorised capital and get its authorised capital increased simultaneously in anticipation of the fresh allotment.
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