I would like to Know the procedure to increase the authroised share capital and also issue of share capital in a private limited co.
My authroised share capital is Rs 1,00,000 and issued capital is Rs 40,000 i want to introduce 2 new shareholders for 15% each and in lieu of their share they will bring rs 75,000 each.
What is the proceudre to be adopted and the formalities to be completed and what will be the amount of expenses that will incurred in the whole process.?
The company will have to pay the Govt. fees as per the amount of increase in capital. For this you have to file Form 5 for increase in capital and Form 2 increase in paid up capital but be sure that the amount has been deposited in company's accounts and has been alloted the shares to the persons who have deposited the money. Only after that the form 2 can be filed.
Dear Sir,
Following may be the check list for increase in authorised share capital:
1. Call the Board Meeting.
2. Pass the necessary resolution and approve draft notice for calling EGM/AGM.
3. Check authority in AOA for increase in authoirsed share capital, if not then resolution in this would also be passed.
4. if shares are being alloted other than the existing shareholders then comply with the requirement of 81(1A).
5. Call the EGM/AGM and pass the necessary resolution.
Dear Sir,
Following may be the check list for increase in authorised share capital:
1. Call the Board Meeting.
2. Pass the necessary resolution and approve draft notice for calling EGM/AGM.
3. Check authority in AOA for increase in authoirsed share capital, if not then resolution in this would also be passed.
4. if shares are being alloted other than the existing shareholders then comply with the requirement of 81(1A).
5. Call the EGM/AGM and pass the necessary resolution.
CAclubindia
