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Discussion > Corporate Law > Pvt ltd >

Procedure to increase Authorised share capital

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STudent


[ Scorecard : 75]
Posted On 27 April 2011 at 19:29 Report Abuse

Dear members

I want to know the procedure to increase the authorised share capital in my Restaurant Pvt. Ltd Co.,

Initially it is Rs 1,00,000/- with three promoters and they themselves are the directors.


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SANTOSH SHAH
Company Secretary


[ Scorecard : 749]
Posted On 28 April 2011 at 10:00

Originally posted by : venu

Dear members

I want to know the procedure to increase the authorised share capital in my Restaurant Pvt. Ltd Co.,

Initially it is Rs 1,00,000/- with three promoters and they themselves are the directors.

 Hi Venu

To increase the Authorised Share Capital (ASC)

1. Conduct a Board Meeting ( BM) and pass resolution for increase in ASC.

2.Call for EGM by sending notice 21 days  U/s 173 (2) or  call at short notice - Form  22A

3. Hold EGM and get approval for ASC Increase

4. Modify the MOA / AOA .

5. File Form 23 With ROC within 30 days of EGM

6.File Form 5 , ( calculate the fees & stamp duty) for increased Authorised Share Capital.

7.Post approval of above your ASC stands changed .

 

Other views  Solicited

 

regards

Santosh Shah



Total thanks : 1 times




CS Shivi Reddy
COMPANY SECRETARY


[ Scorecard : 175]
Posted On 28 April 2011 at 12:16

Form 23 is not required if only Ordinary resolution is passed. Only form 5 will do.

But if the increase in authorised capital requires change in Articles also den special resolution is passed. in that case form 23 nd form 5 both r required

 

regards

shivi



Total thanks : 1 times



SANTOSH SHAH
Company Secretary


[ Scorecard : 749]
Posted On 28 April 2011 at 12:34

Originally posted by : CS Shivi Reddy

Form 23 is not required if only Ordinary resolution is passed. Only form 5 will do.

But if the increase in authorised capital requires change in Articles also den special resolution is passed. in that case form 23 nd form 5 both r required

 

regards

shivi

 HI Shivi

I do agree with ur point. Form 23 only if Special resolution passed.

 

regards

Santosh Shah




Member (Account Deleted)
Trainee - Secretarial; CS Final ICWA Final


[ Scorecard : 301]
Posted On 03 May 2011 at 17:41

Dear Venu,

For Increase in Authorized Share Capital....

> Propose For General Meeting of Increase in Authorized Capital in Board Meeting and give notice as per your Articles. 

> In Case of Shorter Notice, 95% of Voting Power Should pass the resolution favoring the same.

> Hold EGM & Pass Resoln Favoring the Increase of Autho Capital & Modify your MoA - AoA

> File Form 23 & Get SRN

> With SRN of Form 23 and

> Calculate Stamp Duty ( If its applicable for that Particular State )File Form 5.... 



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