Increasing paid up capital

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JISHNU G K PILLAI (Querist)
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01 July 2016 SIR, WE A PRIVATE COMPANY HAVING AUTHORISED CAPITAL RS. 500000.00 AND HAVING PAID UP CAPITAL 100000.00 . SO WE HAVE TO INCREASE PAID UP CAPITAL TO 5L.., WE DEPOSITED RS. 4L IN COMPANY BANK ACCOUNT. CAN I USE THAT DEPOSIT AS CAPITAL ADDITION. ALSO I WANT TO KNOW THE PROCEDURES WITH MCA

c.bakshi

c.bakshi (Expert)
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01 July 2016 see section 62 & 64 for the procedure, you have to make allotment either by RIGHT ISSUE Or by Preferential allotment. however, until the allotment is made, you cannot use that money for company purposes as per the latest provisions of Companies Act, 2013

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