increase in authorised share capital

1241 views 5 replies

Shraddha Shukla

Corporate law Consultant

346 Points Joined May 2009

In the Annual General Meeting held on 15/07/2000 the shareholders of the company increases the authorized share capital from 10 cr to 30 cr, however due mistake/ignorance no filing regarding it was made by the company neither the same was shown in the books of accounts. Company is PSU and no public money is involved and uptil now no communication had being made to ROC about the same

(a) Can we make good this default by calling a new General Meeting approving the increase in share capital? Thereafter we will fulfill all formalities regarding filing of documents with Registrar of Companies. All the shareholders of the company unanimously agreed to it.

Replies (5)

HARDIK

COMPANY SECRETARY NCFM (Corporate Gover

664 Points Joined October 2008

Take fresh approval and file forms.

udit sharma

Company Secretary

2303 Points Joined October 2010

Hi...

As you said that the increase in the Authorised Capital was not reflected in the Books of Accounts, you can show an EGM in the Current Date and file the forms accordingly....

This is my opinion and views of eminent experts are welcome

God Bless

Udit Sharma

Ankur Garg

Company Secretary and Compliance Officer

114788 Points Joined January 2009

Hi,

You should go for fresh approval of shareholders through GM for increase in AC. File the requisite forms with ROC without undue delay.

This course of action is very much advisable where paid up capital of the company is not more than Rs. 10 Crore.

Best Regards

Vaibhav Shukla

Company Secretary

142 Points Joined June 2009

Dear Shraddha ji,

As is evident from your query that approval of shareholders has been taken for increasing the authorised share capital but the same has not been acted upon as neither any filing has been done with the Registrar of Companies nor it has been incorporated in the books of accounts. In this case you can take a fresh approval of the shareholders in the general meeting and complete all the formalities with regard to the filing of the documents with the ROC.

Regards

ACS Vaibhav Shukla

CA Ayush Agarwal

Kolkata-Pune-Mumbai

27354 Points Joined October 2007

Originally posted by : Ankur Garg
	Hi, You should go for fresh approval of shareholders through GM for increase in AC. File the requisite forms with ROC without undue delay. This course of action is very much advisable where paid up capital of the company is not more than Rs. 10 Crore. Best Regards