21 August 2008
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.
21 August 2008
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."
CAclubindia
