Authorised Share Capital

Vidisha Jain (CA FINAL) (155 Points)

03 November 2009  

Hi frenz...

Following is the case

A company has an authorised share capital of Rs. 6 Crores (60 lakh shares of Rs. 10 each). The paid up capital is Rs. 4 Crores (40 Lakh Shares of Rs. 10 each). Now, the Company wants to allot shares at Rs. 25 each.

Can the company divide its authorised share capital of Rs. 6 Crores, i.e., 40 Lakh Shares of Rs. 10 each and 8 Lakh Shares of Rs. 25 each ???

If so, which form should be filed with ROC ?

Thanks in advance