increase company capital

PROCEDURE FOR INCREASE IN AUTHORISED CAPITAL:
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> Consult the Articles of Association of the company to see whether they authorize the company to increase the share capital.
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> Convene a Board Meeting after issuing notices to directors to decide about the increase and to fix up the date, time, place and agenda for convening a General Meeting and to pass an Ordinary Resolution or Special Resolution, if so required by the Articles, for the same.
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> Issue notices in writing at least 21 days before the date of the meeting for the General Meeting with suitable Explanatory Statement.
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> Hold the general meeting and pass the Ordinary Resolution by simple majority or Special Resolution, by 3/4ths majority.
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> If the resolution passed is a Special Resolution, file the same with Explanatory Statement with the concerned ROC in Form No. 23 within 30 days.
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> File the notice of increase with the concerned ROC in Form No. 5 (duly stamped) within 30 days on which the Registrar of Companies will make necessary changes in the Company’s Memorandum & Articles of Association.
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> Other following documents to be filed along with the above referred documents:
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> Certified True Copy of the MOA & AOA after altering necessary clauses.
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> Demand Draft in favour of Registrar of Companies for the requisite filing Fees.
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Source: BRV and Associates, Chartered Accountants