Which resolution is required for increase in authorised capital?
Ordinary Resolution
Hold the general meeting on the day fixed for the meeting and pass the Ordinary Resolution under Section 61(1)(a) for altering the Memorandum of Association by increasing the authorised share capital of the company, by simple majority in accordance with Section 114(1) of the Act.
Does increase in Authorised share capital requires special resolution?
Extra-Ordinary General Meeting The approval of the shareholders to increase the authorized capital must be in the form of an ordinary resolution.
What is the fee for increase in Authorised share capital?
Calculation of fees payable on increase in Authorised Share Capital
| Authorised Share Capital | Other than OPC and Small Companies | |
|---|---|---|
| Fixed | For every 10,000 or part thereof | |
| Upto 1,00,000 | 5,000 | N.A. |
| More than 1,00,000 upto 5,00,000 | 5,000 + | 400 |
| More than 5,00,000 upto 10,00,000 | 21,000 + | 300 |
How do you increase Authorised and paid up capital?
- File Form SH-7 with the ROC: File a notice of alteration of Share Capital with the Registrar in E-Form SH-7along with the prescribed fee within 30 days of such alteration along with the following documents:
- Certified true copy of Ordinary Resolution for increase in Authorized Share Capital.
- Payment of e-Stamp Duty:
Is MGT 14 filed for increase in authorised capital?
Once the Ordinary Resolution for increase in authorised capital of company is passed, the company will file forms MGT-14 for filing of resolutions and Form SH-7 along with necessary documents for increase in authorised capital of company with the Registrar of Companies (ROC) through MCA portal.
Is MGT 14 required for ordinary resolution?
MGT-14 needs to be filed by a company with the Registrar of Companies (RoC) in accordance with section 94(1) and 117(1) of the Companies Act 2013 and the rules made thereunder. However, the private companies are exempted from filing Board Resolutions.
Is MGT 14 required for increase in authorised capital?
Which resolution is required for alteration of share capital?
At the Board Meeting, pass a Board Resolution to call for an Extraordinary General Meeting and issue notice pursuant to the provision of Section 101 of the Act, where the altered clause on authorised capital in the Memorandum of Association can be presented for approval by passing an Ordinary Resolution.
How is stamp duty calculated for increase in Authorised share capital?
STAMP DUTY SHALL BE: 0.15% OF AMOUNT OF INCREASE IN AUTHORISED CAPITAL SUBJECT TO MAXIMUM OF RS. 25 LAKHS. 1000 ON EVERY RS. 5 LAKHS OF AUTHORISED CAPITAL OR PART THEREOF SUBJECT TO A MAXIMUM OF 50 LAKHS OF STAMP DUTY.
Is board resolution required for creation of charge?
Normally, charge creation can be authorised by a resolution of the Board. However, if the Articles of Association of a company provide for a resolution of the general meeting, the same must be passed. Once the board resolution is passed, the return in e-Form No.
Is Board resolution required for creation of charge?
Is MGT 14 filed for ordinary resolution?
Is MGT-14 filed for increase in authorised capital?
Is MGT-14 required for ordinary resolution?
How is authorised capital calculated?
Formula 1: Share capital equals the issue price per share times the number of outstanding shares. Formula 2: Share capital equals the number of shares times the par value of stock plus the paid in capital in excess of par value.
Is MGT-14 required for increase in Authorised capital?
Which ordinary resolutions should be filed?
Two ordinary resolutions which do need to be filed at Companies House are: Re-denomination of shares to another currency. Agreeing that a company may send or supply documents or information to members by making them available on a website.
What is the limit of authorised capital?
The authorised capital of a company is the maximum amount of share capital for which shares can be issued by a company. The initial authorised capital of the Company is mentioned in the Memorandum of Association of the Company and is usually Rs. 1 lakh.