Increase in authorised capital

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Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2014 Hello...

I want to increase the authorised capital from 35 crs to 50 crs...please provide me with the prcedure under companies act 2013...

MOreover we are also suppose to change MOA and AOA of the company. our industry code 45200 under construction. please provide me with the MOA of the company applicable...

Thank You

Ankur Garg

Ankur Garg (Expert)

12 July 2014 PROCEDURE FOR INCREASE IN AUTHORIZE CAPITAL

Under Companies Act, 2013, the process of Increase in Authorise Capital is governed by Section 61. Procedure in this regard is given below:

1. As per section 61, for altering the memorandum of Association for increasing the Authorised share capital authorization in articles is a must. So first check is there any provision in AOA regarding increase in capital, if there is provision in Article then it is fine. But if there is no provisions in AOA then proceed to amend Articles.

2. Hold a Board Meeting for the following purpose:

a. To Get approval of Directors for Increase in authorised share Capital
b. Fix time and place of Extra-ordinary General meeting (EGM) to get approval of shareholders for amendment in authorised share Capital clause of Memorandum of Association.

3. Hold the Extra-ordinary General meeting (EGM) on due date and pass the necessary ordinary resolution for increase in authorize capital.

4. File form SH-7 with roc within 30 days of passing of Ordinary Resolution

- Attachment:

a. Notice of EGM
b. CTC of OR
c. Altered Moa

5. ROC will check the Documents and will approve to increase in authorize capital.

Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2014 But what will be the fees payable to ROC...
and when it is suppose to be paid??
before or after??

Ankur Garg

Ankur Garg (Expert)

12 July 2014 You have to pay the fees online at the time of uploading E-forms for increase in authorised share capital.

Thanks

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2014 Am i suppose to change MOA and AOA as per new act??

Ankur Garg

Ankur Garg (Expert)

15 July 2014 It is not compulsory as per section 5(9) of Companies Act, 2013. But it is advisable to adopt new set of MOA and AOA to keep it in sync with CA 2013.This will save you from administrative inconvenience in future.

Thanks

Ankur Garg

Ankur Garg (Expert)

15 July 2014 You may download new set of MOA and AOA as per Companies Act, 2013, from the link given below:

https://www.caclubindia.com/forum/download-sample-moa-and-aoa-as-per-companies-act-2013-298105.asp

Hope that the same would be of some help.

Thanks

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