Dear Experts,
There is one Private Limited Company which is subsidiary of foreign Company. Company had decided already 80:20 Raito of shares. Now Company wants to increase its paid up capital of the Company by same proportion.
My query is can we take straight away Section 62 (1)(a) for right issue. As it is more specific section than 42 and 61 (1) (C). Kindly suggest the best possible procedure for further issue of Capital.
Kindly through some light and do us needful as early as possible.
CAclubindia
