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Section 25

Nikhil Kalra (CS Final Student) (85 Points)

20 April 2010

Can anyone tell me what is the procedure to increase Authorised capital of the Section 25 of the company and also give me every resolution required for this and any letter if required.

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Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 20 April 2010

Find below the procedure

1) Convenue a board meeting to discuss the agenda and fix general meeting date for passing ordinary resolution of shareholders u/s 94.
2) Convenue general meeting on due date.
3) File e-form-23 only if increase in AC warrants change in articles along with explanatory statement u/s 173(2) within 30 days of passing the resolution.
4) File e-form 5.
5) File altered MOA and AOA (attach with form-5).

No physical submission is required now.

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Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 20 April 2010

Find below the resolution:

Increase in Authorised Share Capital of the Company

“RESOLVED THAT pursuant to the provisions of Section 94 and other applicable provisions if any of the Companies Act, 1956 (including any Statutory modification or reenactment for the time being in force) the Authorised Capital of the Company be increased from Rs. 50,00,000 (Rupees Fifty Lacs) to Rs. 20,00,00,000 (Rupees Twenty Crores) by creation of 1,95,00,000 (One Crore Ninety Five Lacs) new Equity shares of Rs.10/- (Rupees Ten) each ranking pari passu in all respects with the existing Equity Shares.

RESOLVED FURTHER THAT pursuant to the provisions of Section 16 and other applicable provisions if any of the Companies Act, 1956 (including any statutory modification or re-enactment for the time being in force) the existing Clause-V of the Memorandum of Association of the Company be and is hereby substituted by the following new Clause-V:

The Authorised Share Capital of the Company is Rs. 20,00,00,000 (Rupees Twenty Crores) divided into 2,00,00,000 (Two Croroe) Equity Shares of Rs. 10/- (Rupees Ten) each.

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