what is the stamp duty payable on authorised share capital of the company?
Authorised share capital & Share application money
Page no : 2
Lineesh James
(Company Secretary)
(30 Points)
Replied 16 September 2008
Authorised capital have to be broken in to the number of shares and the nominal value ( it can be either classified or unclassified) . Before you issue shares you have to reclassify if you have not classified the share capital.
Lineesh James
(Company Secretary)
(30 Points)
Replied 18 September 2008
1. Can paid up capital and share application money( received in advance ) exceed the Authorised capital? - Yes.
2.Whether the Issued capital can exceed the Authorised capital? -No.
3. Whether Company can receive Share Application Money in advance( ie before Issue)? -Yes.
This money has to be held by the Company in trust and shares will be issued only as and when the Company plan to issue further shares.
ASHOK KUMAR PURI
(Consulting and Manufacturing)
(34 Points)
Replied 29 October 2008
If a Private Ltd. Co. shows 20000 unclasified shares of Rs 10 each total amounting to Rs.2,00,000 in its Authorised capital as mentioned in its Articles of Association,how are these shares issued to its members and what forms have to be filed with the ROC. Can these shares be reclassified into preferance shares and issued to the members If so is a special resolution required or will an ordinary resolution passed in the AGM suffise.Please elaborate
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