For incorporating a company, I have got name approval. Now can I reduce the Authorised Share Capital of the proposed company. If yes, please guide.
dharmendra verma (Other) (24 Points)
26 June 2010For incorporating a company, I have got name approval. Now can I reduce the Authorised Share Capital of the proposed company. If yes, please guide.
Hina Sadrani
(c S)
(32 Points)
Replied 26 June 2010
As per current system of filing e-forms, you can not change the authorised capital afterwards. You have to file form 1A again with other details being same and changed authorised capital. You have to file it from your user id only and the applicant should remain same. You have to attach one covering letter with FOrm 1A and have to explain that there is no change in subscirbers. FOrm 1A is filed again simply because there is change in proposed authorised capital. You will have to pay Rs.500/- extra but stamp duty and registration fees will be saved.
Views of other members are solicited.
regards...
File Form 68, with MCA with For the Correction in the Authorised Share Capital
As, Once the Name is reserved by any Company will not be allotted to any other, So You cant file the Form for the same Name.
Moreover, The MCA doesn’t have the option of the Revocation of name, Once granted by the MCA.
Meaning thereby If you want the same name, then there are only 2 Option.
File another Form 1A, after 60 days.
Or
File Form 68 with MCA.
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