Increase in Authorised Share Capital
This query is : Resolved
ASHWIN CHAUHAN
(Querist)
22 April 2010
DO we need to alter AOA where it says that "The authorised share capital of the company shall be same as contained in clause (V) of the Memorandum of Association of the Co. ? The Special Resolution need to be passed ?
If No, then Form 23 need to be filed ? as the other resolutions - Increase in Autho Sh. Cap and Alteration of Capital Clause in Memorandum are Ordinary Resolutions.
Explanatory statement is necessary where AOA says it is not to be annexed to notice and sub sec (2) and (3) of sec 173 shall not apply
If No, then Form 23 need to be filed ? as the other resolutions - Increase in Autho Sh. Cap and Alteration of Capital Clause in Memorandum are Ordinary Resolutions.
Explanatory statement is necessary where AOA says it is not to be annexed to notice and sub sec (2) and (3) of sec 173 shall not apply
CA Sanat Pyne
(Expert)
22 April 2010
No ,Thereis no need to alter AOA. an ordinary resolution has to be passed.
Ankur Garg
(Expert)
22 April 2010
Agree.
If this clause is already there in your AOA than there is no need to alter AOA.
Simply OR is enough for increase in AC.
For the alteration of your articles you have to pass a special resolution u/s 31 and file form 23 within 30 days of passing special resolution.
Alteration of AOA is a special business hence preparation of explanatory statement is must.
If this clause is already there in your AOA than there is no need to alter AOA.
Simply OR is enough for increase in AC.
For the alteration of your articles you have to pass a special resolution u/s 31 and file form 23 within 30 days of passing special resolution.
Alteration of AOA is a special business hence preparation of explanatory statement is must.
CA Ravi Sisodia
(Expert)
22 April 2010
Agree with experts
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