The authorized capital is the maximum amount of capital which can be raised by a Company through the issue of shares to its shareholders. An increase in authorized capital might be required for issuing new shares and/or inducing more capital into the Company. Our professional can help you concerning the filing and issuing of shares concerning the increase in the authorized share capital of the Company.
Authorized Capital is mentioned in the capital clause of the Memorandum of Association of the company. And if the company wants more capital then, the capital clause has to be amended by the members by passing a special or ordinary resolution (as there is no specification about nature of resolution under S. 61) as per S. 61 of the Companies Act, 2013 at a meeting. Following are the pre-requisite before filing an application to MCA for an increase in the authorized capital:
• Check/verify whether AoA provides for an increase in authorized capital. If it does not provide then the same must be amended to the effect under section 14 of the Companies Act, 2013 by passing a special resolution.
• A board meeting for notifying the call for Extraordinary meeting (EGM) must be held.
• An ordinary or special resolution (preferably Special resolution) for an increase in authorized capital i.e. for alterations in MoA & AoA must be passed in such EGM.
After fulfilling the above pre-requisite, file the prescribed form i.e. e-Form SH-7 with the registrar within 30 days of passing of the ordinary resolution. Following documents must be attached:
• Board Resolution for an increase in authorized share capital.
• Board resolution for modification in the capital clause of MoA.
• Shareholder’s resolution passed in EGM.
• Altered copy of MoA & AoA.
Step 1: Documentation: Once you have gone through the stage of passing requisite resolutions in the Board meeting & EGM and, provided the required Information and Documents for further processing, we will prepare the requisite documentation.
Step 2: Increased Authorised capital: Once the documentation is done and verified by the Legal Suvidha Expert, we will e-sign and file the requisite forms, and the Authorised Capital of your business is increased after the approval of RoC.
1. Board resolution for notice of EGM of the Company.
2. Notice of Extraordinary General Meeting
3. Ordinary Resolution.
4. Altered Memorandum and Articles of the Company.
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