We have a Multi-State Co-operative society registered under MSCS Act, 2002 and it has authorized share capital of Rs. 10 lacs. We want to increase the Authorized Share capital of the society, Would we need the permission of Central Registrar before doing this? Secondly, what will be the procedure to increase the share capital in a Multi-State Co-operative Society?
I've invested 10% of the share capital in founding this society and currently have 10% of shares, I want to know what impact would raising the capital will have over my stake and how could I keep it intact at 10% for control purposes?
CAclubindia
