how to increase in issued capital

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DEEPAK (Querist)

24 February 2009 a company has paid up share capital 100,000 and authorised share capital is 7500000 has recently increased After that they want to increase in issued capitla is Rs 7400,000 and the distribution between two directors holding fifty percent each.so please tell me the procdure is followed to increase the issued capital

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)

25 February 2009 Step 1 : check the authorised capital find out the shortage in authroised capital from existing to 75,00,000.

Step 2 ; Conduct a Board meeting

Step 3 : Bring the subject of increase in authorised capital and reasons for increase, get the resolution passed.

Step 4 : Fix the date of Egm

Step 5 ; Issue notices to shareholders for egm.

Step 6 : Pass special resoulution for increase in authorised capital, ammendement to memorandum and articles of association and resolution under sectin 81 1A of the companies act.

Step 7 : File form 23 with roc with ammended memoranduma and articles with above resolutions.
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Step 8 : Receive confirmation from roc

Step 9 : Conduct borad meeting

Step 10: Bring the subject as receiving of share application money and pass the resoluction

Step 11 : Receive money

Step 12 : Conduct borad meeting

Step 13: Bring the subject allotment of shares and allot shares

Step 14 : File form 2

Step 15 : Pay stamp duty to concrened registrar office and issue physical shares

Step 16 : Update members and allotment list.

CS Yogesh Sachdeva

CS Yogesh Sachdeva (Expert)

25 February 2009 Before filing Form 2, Form 5 is also to be filed paying thereon the applicable stamp duty for increase in authorised capital as per state stamp laws.

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