Here’s everything you need to know:
Step 1: Verify with the AoA
Examine the company's AoA to see if raising its authorized capital is permitted. You must pass a special resolution to amend the AoA if it is not authorized.
Step 2: Organise a meeting
Hold a board meeting to determine the day, date, time, and location of the extraordinary general meeting as well as to increase the company's authorized capital.
Step 3: Pass the resolution
Approve a resolution requesting shareholder approval at the extraordinary general meeting, including any forms that may be required and the deadline for their submission.
Step 4: Modify the MoA
Change the company's memorandum of association to add the required amount of authorized shares.
Step 5: File forms according to the resolution
After the shareholders' resolution has been approved, submit form SH-7 to the registrar of companies within 30 days. You must also submit form MGT-14 within 30 days of the resolution's passage if it is approved as a special resolution.
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