A Partnership firm convertd into a Joint stock company, under Chapter IX of Companies Act,1956. Now is it possible to raise either paid up capital or authorised capital of this new (converted) company? It was suggested to me that there are some restrictions on doing the same. If it is true then can anyone tell me under which clause or section it is restricted?
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Raise of Authorised capital
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Find a useful attachment and check page 5 for increase in AC
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