i want to know the procedure of increasing the authorised capital and paidup capital
gaurav tayal (student) (35 Points)
17 April 2011i want to know the procedure of increasing the authorised capital and paidup capital
PROCEDURE FOR INCREASE IN AUTHORISED CAPITAL:
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> Consult the Articles of Association of the company to see whether they authorize the company to increase the share capital.
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> Convene a Board Meeting after issuing notices to directors to decide about the increase and to fix up the date, time, place and agenda for convening a General Meeting and to pass an Ordinary Resolution or Special Resolution, if so required by the Articles, for the same.
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> Issue notices in writing at least 21 days before the date of the meeting for the General Meeting with suitable Explanatory Statement.
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> Hold the general meeting and pass the Ordinary Resolution by simple majority or Special Resolution, by 3/4ths majority.
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> If the resolution passed is a Special Resolution, file the same with Explanatory Statement with the concerned ROC in Form No. 23 within 30 days.
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> File the notice of increase with the concerned ROC in Form No. 5 (duly stamped) within 30 days on which the Registrar of Companies will make necessary changes in the Company’s Memorandum & Articles of Association.
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> Other following documents to be filed along with the above referred documents:
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> Certified True Copy of the MOA & AOA after altering necessary clauses.
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> Demand Draft in favour of Registrar of Companies for the requisite filing Fees.
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Source: BRV and Associates, Chartered Accountants
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