Can we share capital of a private limited company

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

18 September 2012 Sir,
There's a private limited company of authorised capital of 25L..out of which 24L is subscribed..now further i wanted to know that can we increase the authorised capital of the company and we have to issue the balance 1L share capital can we..whats the procedure of all this..In that company there are 2 directors with 63% and 25% share..The director who is having 63% share creating troubles in smooth functioning of the company..so what all rights hw have and can he access them without the consent of the other director..Can we increase the share of the other director by issuing more shares oh his favour..??or is there any other remedy available to the other director..??can he remove the director from the company,as he is not ready to leave the company..Plz help me regarding this ASAp..!!

Ajay Mishra

Ajay Mishra (Expert)
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20 September 2012 Hi

If you want to allot further one lakh shares to other director you conven a Board Meeting and allot the further shares , if possible. other wise the same will be dealt in general meeting.

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2012 Tell what can be done regarding the shares of the directors...the director who is having 63% share is creating troubles so what remedies does the other director have..he juzz want to remove from the company but he is not ready so what to do regarding this...

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