increase paid up capital

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2011 private company authorised capital Rs. 1 crores.

Paid up Capital Rs. 2 lakhs

Now I want to increase my paid up capital upto Rs. 70 Lakhs

What is the proceedure for it ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 June 2011 You have to issue further share to increase your paid up capital. Procedure---

1) First convene board Meeting for allotment of equity shares and pass necessary resolution for allotment.

2) Whenever a company having a share capital makes allotment of its shares, it shall file a return of allotment with the concerned Registrar of Companies within a period of thirty days after the date of allotment. [Section 75(1)(a)]. File the return of allotment in e-form 2. e-form should be duly certified by Practicing CWA/CS/CA. Also attach the list of allottee.

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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13 June 2011 For issue of shares to increase paid up share capital, the company need to follow following steps:

1) It should have share application money alongwith share application form
2) BOD meeting to be convene for allotment of shares
3) In BOD meeting , allotment of shares will be done through board resolution
4) File return of allotment in e-form 2 within 30 days of allotment of shares

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