• Declaration of EGM with the descriptive report
• Altered MOA or Memorandum of Association
• Duplicate of the resolution passed at the general meeting of the associates
• Modified AOA or Articles of Association
• Certificate as a proof of new capital arrangement and class of shares introduced consolidated or divided;
• A certificate copy of Board resolution for modified in AOA
• A copy of Board resolution for modified in MOA
• A valid certified copy of the resolution of Shareholders
• Two duplicate copies of the application
• Copies of audited balance sheets for the preceding three years
• Resolution for allowing such consolidation or division and furnishing explanation for the equivalent
• Legal document authenticating the petition.
• Bank draft confirming the payment of request fee.
• The enforced Vakalatnama or Memorandum of appearance along with a copy of the Board’s Resolution, whatever is needed

Read-through of the Articles of Association
The AOA or Articles of Association is the official document which contains the rules and regulations of the internal working of the organisation. Therefore, it is better to verify the Articles of Association before taking action regarding the increase or reduction in the authorized capital, to check whether any rule exists that gives away or an option to a change in the capital of the company.

If such provision exists in AOA, then the process becomes very simple. But if the provision does not exist, then first the company has to amend the Articles of Association under Section 14 of the Companies Act, 2013 (‘Act”), and then the company can proceed with the modification of authorised capital.

Board Meeting to be conducted

• Formal notice to be sent to all the directors mentioning the agenda of the meeting at least 7 days earlier to their respective registered addresses.
• At the Board Meeting, a Special Resolution to call for an EGM and issue notice consistent with the provision of Section 101 of the Act, where the altered object clause on authorized capital in the MOA of the company can be submitted for approval by authorizing an Ordinary Resolution. The proposed change shall be as per the provisions of Section 60 of the Act.
• Notice to be presented to the shareholders concerning the particulars of the board meeting, that includes the agenda, time, date and venue of the meeting.
• The notice must mention the method of voting in which way the resolution is passed at the Extraordinary General Meeting.
• Notice of the EGM is to be granted to all of the following:-
  1. Directors
  2. Shareholders
  3. Auditors
• The notice of the Extraordinary General Meeting. has to be given 21 days prior to the date of the EGM is to be held.

Conducting the Extraordinary General Meeting

After the meeting, the increase in the share capital matter is submitted forth. The voting process then is conducted in a preset manner to conclude regarding the share capital matter. After getting the approval, and the resolution is authorized, the explanatory report is attached, and the increase in the Share Capital is made.

Filing with the Registrar of Companies

Within 30 days of the resolution being authorized, a company should file eForm SH-7 and eForm MGT – 14 (if applicable) attached with all the documents and prescribed fees with the Registrar.

1. Form MGT – 14: This form has to be submitted to the RoC within 30 days of passing the increase in share capital resolution.
2. Form SH – 7: This form has to be submitted to the RoC within 30 days of passing the increase in share capital resolution. The main aim of this form is to suggest the Registrar regarding the information about the increase in the authorised capital of the company. The forms must be filed within the stipulated time period in order to stay away from penalties or subsequent punishment

WHY CHOOOSE TAX GUIDER

Tax Guider is a top and trusted choice for partnership firm registration for several key reasons:

Expert Guidance: Our team of legal and accounting professionals helps you through every step of the registration process.

Efficient Processing: We ensure you a quick and hassle-free registration process aimed at minimizing delays.

Transparent Pricing: We offer clear pricing with no hidden fees. Every fee is made clear at the beginning.

Post-Registration Services: We offer comprehensive services like GST registration, tax filing, and compliance support, to ensure your business remains complaint throughout the year.