Return of allotment

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Bhakti (Querist)
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08 April 2010 I have authorised capital of Rs 1 lac.
The same needs to be increased to Rs 4 lacs.
Now before form no 5 gets approved, is it possible to file the return of allotment in form no 2 for allotment of Rs 3 lacs share?

CS Vandana Kacholia

CS Vandana Kacholia (Expert)
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08 April 2010 no as allotment can be done only when you will get the approval to increase the authorised share capital.

Ankur Garg

Ankur Garg (Expert)
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08 April 2010 You can pass your resolution for allotment immediately after general meeting (increase in AC) resolution.

For example your GM date is April 10 and your BM allotment date is April 11, then effective date of increase in your paid up capital would be April 11. In other words there is no need to wait for approval of form 5 at least for passing allotment resolution.

However approval of your form 2 for allotment is dependent on approval of form 5 for increase in AC.

You can also upload form-2 immediately after uploading of form-5 irrespective of the approval status of form-5.

CS Vandana Kacholia

CS Vandana Kacholia (Expert)
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08 April 2010 thanks for clarifying this technical point.

Bhakti

Bhakti (Querist)
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09 April 2010 I uploaded the form no 2 after uploading form no 5.The error msg appeared while prescruitinising form no 2
"Total authorised capital entered in revised capital structure of the company should be less than or equal to the authorised capital of the company in system"
That means only after my form no 5 gets approved, the same is reflected in SYSTEM and then form no 2 will be uploaded.
Is it so??