LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

Resolution

Pravin (Associate) (127 Points)

22 July 2011

Hi,

Company passed a resolution for increase in Authorised share Capital of the company on 15th March, 2011 paid stamp duty on the form 5 on 1st April 2011 informed ROC on the same date.

What will be the date of effect of the resolution. can i take a increased authorised capital on 31st March,2011 or it will be effective for f.y. 2011-12 (i.e. from 1st April 2011)

Regards,

Reply
Follow
Share

7 Replies

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 22 July 2011

Dear Pravin JI,

The capital is increased w.e.f. the date of resolution.

Nidhi Jain (CS ) (987 Points)
Replied 22 July 2011

Ya, effected date-Date of passing the resolution by members in AGM/Egm as the case may be

Pravin (Associate) (127 Points)
Replied 22 July 2011

thanks for reply

so I Can show the increased share capital in the balance sheet ending on 31st March, 2011

SANTOSH SHAH (Company Secretary) (754 Points)
Replied 22 July 2011

Originally posted by : Pravin
	thanks for reply so I Can show the increased share capital in the balance sheet ending on 31st March, 2011

Hi Pravin

In my view, yes you can show the increased share capital in B/S.

As the date of passing of resolution is 15th March, so the effect should be shown in FY 10-11 irrespective of filing of the form

taking place in FY11-12 bcoz the form is just an intimation to ROC to take on record and you have 30days time from the

resolution date to file the same.

Other views Solicited.

regards

Santosh Shah

RG - A Helping Hand (Company Secretary) (13867 Points)
Replied 22 July 2011

Agree with everyone...

Infact there is no qus of "cann you show"

The real situation is you have to show as there is no other option and AC is considered to be increased from March 15 for balance sheet and for all other purposes..

Rgds

CA Aditya Goel (Chartered Accountant) (368 Points)
Replied 22 July 2011

Agree. Even if the resolution passed on 31st march, the increased authorised capital will be shown in the Final Accounts.

GAUTAM DEY (Be Patient, Live Life) (17309 Points)
Replied 25 July 2011

Originally posted by : CA Aditya Goel
	Agree. Even if the resolution passed on 31st march, the increased authorised capital will be shown in the Final Accounts.