Issue of Shares from Authorized Capital

Hari Nair (CA Business) (163 Points)

15 September 2021  
Aprivate company Autjorized Capital is 10 Lakhs and issued capital is 1 Lakh.

There is only two shareholders of the Company and they wish to add new shareholders to company.

Whether Company can add new shareholders without transferring the shares of existing share holders and what's the procedure ?