My Question : What is the process required to be followed? If -
Q no A. Anyone wants to Increase/Decrease the Authorised Capital of a private limited company.
Q no B. Authorised Capital is sufficient say 10 Lakhs but the one wants to increase/Decrease the Issued/subscribed or paid up share capital From 1 Lakhs to 5 Lakhs In case of a Private Limited Company.
Thank you in advance.
I am waiting for your responses.
Ans A: Authorised Share Capital of a Public Company may be increased by passing a special resolution but for Private Company I believe it is a Unanimous Resolution that is required to be passed in their AGM's.
Ans B: Increasing the issued capital in case of a company is governed by section-62 of the Act and shares may be issued to existing shareholders of the said company. As far as decreasing the same is concerned it is governed by section-66 of the Act, in which a process is stipulated for the same.
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