Resolution for sub-division of shares

An Ordinary resolution is enough for alteration of share capital by subdivision of shares u/s 94(1)(d) of the Companies Act, 1956 and it should be passed by the members of the Company in general meeting as conferred by the Section 94(2). An ordinary resolution for Subdivision of shares: "RESOLVED THAT pursuant to the provisions of section 94 and other applicable provisions, if any, of the Companies Act, 1956 the consent be and is hereby accorded for sub-division of every equity share of Rs.10/- each into two equity shares of Rs.5/- each". Consequent to this you need to alter the Capital clause of MOA and file form 5.

Thanks a lot..

Sub-division of shares

  

General Meeting - Ordinary Resolution (unless articles require Special Resolution)

  

"RESOLVED THAT each of the issued and subscribed 60,000 Ordinary Shares of Rs. 100 each in the capital of the company be sub-divided into 10 shares of Rs. 10 each fully paid-up and that each such share shall henceforth be
known as Equity Share of Rs.10/- each.

  
"RESOLVED THAT the existing certificates of shares be called back by the Board of Directors and cancelled and that new certificates in respect of the equity shares of Rs. 10 each be issued in lieu of the existing equity shares of Rs.100/- each in accordance with the provisions of the Companies (Issue of Share Certificates) Rules, 1960."

  

ALSO PASS RESOLUTIONS FOR CONSEQUENTIAL AMENDMENT IN MOA/AOA..