Pvt ltd company

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Querist : Anonymous

Querist : Anonymous (Querist)

24 May 2012 Company X is Pvt ltd Company.
The Share capital of the company is 5,00,000/- Divided into 5000 equity shares of Rs 100/- with a power to reduce capital from time to time

While the paid up capital is 1lac.

Whats is the procedure to increase the paid up capital?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 May 2012 1) Convene a board meeting and pass resolution to issue shares to shareholders. The shares to be issued thus should be with in the limits of authorised capital.
2) e-file form 2 with in 30 days of the board meeting.

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2012 What is the Legal recourse that the Director whose Shares have been reduced to say 5-6% take given the fact that the Paid up capital is increased by the other 2/3 directors. Can he still claim relief U/S 560 or for that matter any other section.

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