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CS Divesh Goyal
INCREASE IN AUTHORIZE CAPITAL GOVERN BY SECTION 61.
PROCEDURE
- First check is there any provision in AOA regarding increase in capital, if there is provision in Article then it’s ok, But If there is no provision in AOA then first Alter AOA.
- Hold a Board Meeting
– To Get approval of Directors for Increase in Capital
– Call EGM
- Hold a EGM
– Pass Ordinary Resolution for increase in authorize capital
- File form MGT-14 with ROC within 30 days of passing of resolution:
– Attachments:
- Notice of EGM
- CTC of OR
- Altered MOA
- File form SH-7 with roc within 30 days of passing of Ordinary Resolution
– Attachment:
- Notice of EGM
- CTC of OR
- Altered Moa
- ROC will check the Box and will approve to increase in authorize capital.
(Author can be reached at csdiveshgoyal@gmail.com )
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Sir, appreciate your article but i don’t think only in case of increase in authorised capital mgt 14 will file with ROC, yes if article alters then we have to file mgt 14 with ROC.
Because section 117 only talks about special resolution.
Correct me if i wrong.