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swapnil (Querist)
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21 February 2013 IT IS NECESSARY TO INCREASE AUTHORIZE SHARE CAPITAL OF PRIVATE LIMITED COMPANY?
WHEN WE INCREASE AUTHORIZED SHARE CAPITAL OF COMPANY?
AN IF ARE NOT RAISE AUTHORIZE SHARE CAPITAL OF COMPANY THEN WHAT WILL BE THE EFFECT?
IS THERE ANY PENALTY FOR DELAY IN PROCEDURE OF INCREASE IN AUTHORIZED SHARE CAPITAL?

Ajay Mishra

Ajay Mishra (Expert)
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21 February 2013 Hi

Authorised share capital is the maximum capital up to which a company can issue shares and maintain their paid up capital

If you want to increase its paid up capital which are going to increas from its authorised capital, in that case you will firstly need to increase Authorised Share capital.

swapnil

swapnil (Querist)
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21 February 2013 suppose my paid up capital is 3,00,00,000/- And authorised share capital is 5,20,00,000/- (In F.Y 2012-13) but as per Memorandum & Article fo association authorised share capital is 5,00,00,000/- (Till todays date) so in this case we need to increase authorisezd share capital ? and suppose i m not increase my authorised share then what will be the effect.
i have to suffer from any proublem or its will create any amount of liablity in future ?

Ajay Mishra

Ajay Mishra (Expert)
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21 February 2013 How, it is possible.

How, you says, that your company authorised capital is Rs.5,20,00,000. You have filed Form 5 for increased capital or not.

Both capital clause of MOA should shown actual capital clause of the company.

Check company master data on MCA portal.

swapnil

swapnil (Querist)
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21 February 2013 Actualy my paid up capital is 3,00,00,000/- Authorised share capital is Rs. 5,00,00,000/- & share Application Money is Rs. 2,20,000/- so in this case we should increase my authorised share capital or not ?

Ajay Mishra

Ajay Mishra (Expert)
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21 February 2013 Hi

Yes, 100% you need to increase authorised capital.

Ajay Mishra

Ajay Mishra (Expert)
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21 February 2013 Procedure for increase in authorised capital of the company

1. Convene a Board Meeting after issuing notices to the directors of the company to decide about the increase and to fix the date, time, place and agenda for convening a General Meeting.
2. To pass an Ordinary Resolution (Special Resolution if so required by articles) for the same.
3. Download Form -5 from www.mca.gov.in
4. Fill the details required such form except signature of the concerned person.
5. Opt the option to pay stamp duty electronically along with ROC fee on Form-5 with concerned ROC.
6. Please attached altered MOA and AOA with the Form-5 filed with concerned ROC .
7. File MOA along with stamped form-5 with concerned ROC (if required).
8. After approval of Form-5 from ROC make necessary changes in MOA and AOA and in all other papers and documents.

If you are increasing Authorised Capital by Special Resolution or also change in Article of Association it is required to file Form 23 with concerned ROC within 30 days from the date of passing such resolution.

swapnil

swapnil (Querist)
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21 February 2013 if we don't increase authorised share capital and continue with share application money then what will be the effect ?

Ajay Mishra

Ajay Mishra (Expert)
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21 February 2013 Please check, revised Schedule VI, what it says, about that.

swapnil

swapnil (Querist)
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22 February 2013 What is Letter of Credit & buyers credit ?

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