Increase in authorised capital

Renu Goel (Company Secretary) (207 Points)

25 February 2013  
A Company is registered in Delhi with a authorised capital of 70 Crores. It want to raise its authorised capital with 40 Crores. The stamp duty payable will be o.15% of 40 Crores i.e. Rs. 6 lakhs. Please tell whether it is correct or not??