To enhance the authorized share capital of the company, it is imperative to convene a Board meeting. During this meeting, approval from the Board of Directors must be secured by passing a resolution to increase the authorized share capital.
Must Read: A draft resolution for the extension of the Annual General Meeting!
“RESOLVED THAT under the provision of Section 61, 64 and all other applicable provisions of the Companies Act, 2013 if any (includes any statutory modification, notification, orders and circlers as may be issued from time to time) and as per provisions of the Memorandum and Articles of Association of Company the Consent of the Members of the Company be and is hereby accorded to increase the Authorized Share Capital of the Company i.e. from INR _____________ (Rupees_______) divided into _____________(________) Equity Shares of INR ____________(________) each to INR ___________(Rupees___________) divided into __________(___________) Equity Shares of INR _____(__________) Each.
RESOLVED FURTHER THAT the existing Clause V of the Memorandum of Association of the Company be and is hereby substituted by the following clause:
V. The Authorized Share Capital of the Company is INR ________________ (Rupees_____________) divided into __________ (______________) Equity Shares of Rs ____ (Rupees_____) Each.
RESOLVED FURTHER THAT any of the Directors of the Company be and is hereby authorized to do such necessary acts, things, deeds and to prepare such necessary documents as may be required to give effect the above resolution and to file a necessary return to the Registrar of Companies of ___________”.
By Order of the Board,
For ______________________
_____________
DIRECTOR
DIN: _______
ADDRESS: _____________
Date: ___________
Place: ________