Incorporation authorised capital

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RAMESH VENKATESAN (Querist)

31 January 2013
Dear Experts,

Kindly Guide me the following case.

We filed Form 1A with Authorised Capital Rs.1000000.
Can We change the Authorised capital of Proposed Company into Rs.1500000 in Form 1.

Thanks in advance.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)

31 January 2013 Procedure for Increase in Authorised Capital of a Company
Increase of Authorized Share Capital - Procedure

1. Check the Articles of Association of the company to see whether necessary authority/powers is there to increase the authorised share capital of the Company.

2. Issue the Board Meeting notice and Convene the Board Meeting to decide about the increase and to fix up the date, time, place and agenda for convening a General Meeting for passing of an Ordinary Resolution or Special Resolution, if so required by the Articles, for the same.

3. Issue notices in writing at lease 21 days before the date of the meeting for the General Meeting with Explanatory Statement as required under Section 173 of the Companies Act 1956.

4. Hold the general meeting and pass the necessary resolution with required majority.

5. File the Form No. 23 within 30 days for the Special Resolution passed at the General Meeting.

6. File form 5 with the annexures the notice and board and general meeting resolution and make payment for the stamp duties online.

With the approval of the form 5 the change in authorised capital will get effected and can be checked at www.mca.gov.in/MCA21.

Note: the above mentioned form 23 and form 5 is available at the Ministry of Corporate Affairs website www.mca.gov.in/MCA21

RAMESH VENKATESAN

RAMESH VENKATESAN (Querist)

31 January 2013 Dear AYUSH,

The Company is in the process of incorporation.

RAMESH VENKATESAN

RAMESH VENKATESAN (Querist)

31 January 2013 The above procedures are applicable for existing companies..

My question is

1) we are in the process of incorporation.

2) We got the name approval by filing form 1A.
3) We mentioned Rs 1000000 as Authorised capital of Proposed company in Form 1A.

Now can we change the authorised capital into Rs 1500000...?

CA Ayush Agarwal

CA Ayush Agarwal (Expert)

31 January 2013 Yes, You Can Change.

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