No, authorized capital must be increased before issuing further capital and Capital Clause in MOA will also need to be changed. Issue over the authorized capital would be ultra-vires the memorandum.
Dear Sir,
no you cannot increase the paid up capital more than authorised. You can keep the money in share application account but before allotment u have to submit form no 5 with MCA PORTAL. The portal takes 1 months to increase the capital.
be cautious
CAclubindia
