Change in Share Capital

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    Overview of Change in Share Capital

    The capital amount which is invest in a Company. It is one of the most critical decisions which is made by a supporters when a company is in its incorporation stages. The business is begins to pick up and a Company may be look to expand all operations, expand in size, scale, or structure. Making that a dream a reality, it also required the driving of more funds into a private Company.

    Increasing and Changing a share capital of a Company. Sometimes, a amount of necessary which is capital might surpass the limit of the authorized capital at same time.

    The authorized capital is a big amount of Capital for a Company which can be issued the shares to all shareholders. In the Section 2 of the Companies Act, 2013, the Authorised Capital limit which is specified in the MOA under the Capital Clause.

    A company which may be take all types of necessary steps which is required to Increase and Change the authorized capital limit. It cannot be issued all shares exceeding the authorized capital limit in any time.

    Meaning of Share Capital

    The word capital who is signifies ‘Share Capital’ of an organization where the rupees is  divided into a predetermined number of all shares of a fixed amount. Each private Company is requires cash in the form of share capital to maintain the business. The organization utilizes the cash to meet their necessity by the method of gaining the business premises and stock-in-trade and so on.

    The Company which is choseing to expand its Capital, at first it has to check all the current Authorized Share Capital. It is because the Company who can’t given all the shares past the authorized Share capital in any way.

    Meaning of Authorized Capital & Nominal Capital

    The provision of the section 61 the government of the Change in share capital in the organizations. It is also read with the section 13 & 64 of the Companies Act 2013. According to the Section 2 of the Companies Act, 2013 then all ‘authorized capital’ or ‘nominal capital’ is signifies such Capital as approved by the memorandum of a company.

    In this way, it is also all clear that the employing is the previously which is mentioned the definition. An organization who can extend the business up-to the level. If you need to expand the business by the infusioning of more funds.

    The Characteristics of Change in Share Capital

    • specific rights for liabilities.
    • According to Sale of Goods Act, 1930 – Goods are also implies any movable property by other than exceptional cases, money & stock and shares.
    • Share Capital is also recognized by their number. But this provision will not have any kind of significant which is impact to a share which is held by an individual. Its name is entered as the holder in the record of a depository.
    • As well as, all kind of share of any part in an organization is also a movable property which is transferable in its way to mention it in the articles of association of the Company.

    Required Documents

    • EGM Announcement is required with the descriptive statement;
    • Duplicate resolution is delivered at the general meeting of the associates;
    • Modified Memorandum of Association is also required.
    • Modified Articles of Association is required.
    • A valid certified copy of The Board resolution for the alteration in AOA
    • A valid certified copy of the Board resolution for the alteration in MOA
    • Also a valid certified copy of all Shareholders resolution is required
    • Duplicates copies of audited balance sheets is requird for the past three years;
    • Resolution for permitting such as consolidation or division & providing the explanation;
    • Credentials in proof of the new capital arrangement & the class of shares which is presented and consolidated or divided;
    • Affidavit is authenticating the petition.
    • Bank draft is substantiating payment of the request fee.
    • Two additional duplicates of the application is required.
    • Any other applicable documents is also required.
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