Is it required to file Form 23 in case of increase in authorised capital, eventhough the resolution passed is ordinary?
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Corporate Law
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If there is an alternation in the Articles by virtue of increase of capital then it must be carried on thru a special resolution and accordingly form 23 is required to be filed.
If there is no alteration in the articles then only memorandum will be altered by an ordinary resolution and no form 23 is to be filed.
In this case in form 5 you have to click on option "Ordinary Resolution" and accordingly the option of mentioning Form 23 SRN will be disabled.
pl help mein the following matter
One Pvt. Ltd. co. has Authorised capital of 1 Crore and issued one is 75 lakhs. it sell the co to new directors for 1 crore . pl help me pass the entries and adjustment of excess 25 lakhs paid to old directors.
any tax implication involved therein?
nsrinder
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