Increase in Authorised Capital

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sachin (Querist)
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15 February 2011 myself sachin, i have query about Form5 and prefernce share.

the company is increasing authorised capital from rs.1 lac to 5 crore to issue preference shares , hence company did baord meeting and EOGM and uploded form 5 on 12th feb 2011 bt due to some signing we couldnt paid roc fees and stamp duty before the expiry date of challan i.e. 14/02/2011. now i want to upload form again but ROC system gives errror regarding old Form 5? please give me solution. coz i want to do it urgent.

if the money received for perferce shares before the EOGM can i file form5. suppose money comes on 1st jan and EOGM called on 1 st Feb . is it legal according to company Law. i will be greatful if Mr. Ankur Garg solve my query.

thanks regards
sachin

Jayashree S Iyer

Jayashree S Iyer (Expert)
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16 February 2011 Share application money should be received only after the resolution for increase in Authorised Share Capital is passed in EGM.

With regard to filing of Form 5, wait till the expiry date of challan. Since the payment for Form 5 is not made, the form will automatically become invalid. Check the status in mca website by giving SRN Number. Once the Form is rejected, you can file new Form 5.

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