Authorised capital is a maximum share capital of the Company which sets limit within which the shares are issued by the Company. When a Company wish to increase its share capital by further issue of share capital which is beyond the Authorized capital of the Company then before making such an allotment the existing Authorize is required to be increased. The Article of association of the Company must not restrict such amendment or else the same need to be amended.
It increases the capacity of the Company to raise more capital.
Company with higher authorise capital gets more preference in getting loans.
Article of association of the Company must not restrict such amendment or else the same need to be amended.
Holding and convening the BM to approve the increase in authorise capital and fix date time and place for holding EGM for shareholders approval.
Convening EGM to pass ordinanry resolution for increase in authorise capital and alterartion of MOA for higher capital.
The documents as required to be prepared for filing the form for alteration of MOA.
Form SH 7is required to be filed with ROC and getting the capital altered.
Authorised capital is a maximum share capital of the Company which sets limit within which the shares are issued by the Company.
The Ordinary Resolution in General Meeting is required to be passed for alteration of memorandum.
Form SH 7 is required to be filed with resolution passed in general meeting and amended MOA within 30 days of passing resolution.
Bhanu is a person to count upon, with his expertise in his domain and knowledge he brings on you can reach him with a problem any time. His appetite to listen and understand the issue makes him the man for the job. He is proactive, energetic and a resourceful guy. My best wishes to Bhanu and Startup seven for future endeavour.
Founder at Addensure Media LLP
Startup Seven is perfect to partner with in your startup or corporate journey. Seamless service and support provided by team is really helpful specially when you are trying to setup your venture. I would like recommend Startup Seven to every startup.
Founder Onmytap - NETWORK FOR PROFESSIONAL GROWTH
Bhanu is one of the most sincere and trustworthy person I have come across. He is extremely ethical and is completely customer focused. His hard work and dedication is commendable and with him handling the legal as well as taxation things are always in order and compliant. Keep up the good work Bhanu. Wishing you more and more success as you grow.
Co-founder, Executive - Brightsandz Clean Tech Pvt Ltd