Ordinary Resolution For Increase In Authorised Share Capital
“RESOLVED
THAT pursuant to Section 61(1)(a) and other applicable provisions, if any,
of the Companies Act, 2013 and Article ... of the Articles of Association of
the company, the Authorised Share capital of the company be and is hereby
increased from Rs.50,00,000 (Rupees fifty lakh) divided into 5,00,000 (five
lakh) equity shares of Rs.10 each to Rs. 5,00,00,000/- (Rupees five crore)
divided into 50,00,000 (fifty lakh) equity shares of Rs.10 (Rupees ten) each by
creation of 45,00,000 equity shares of Rs.10 each ranking pari passu in all respect with the existing equity shares.”
FURTHER
RESOLVED THAT for the
purpose of giving effect to this resolution, Shri ………………….. of the Company be
and is hereby authorised, on behalf of the Company, to do all acts, deeds,
matters and things as deem necessary, proper or desirable.
(Note: If the Articles of Association prescribe
that a special resolution is required for increase of authorized share capital,
pass the resolution as a special resolution.)
Explanatory
Statement
The directors of the company have felt that for
profitable working of the company, the company needs more funds in the form of
equity share capital. The present authorised share capital of the company is
only Rs.50,00,000 (Rupees fifty lakhs) divided into 5,00,000 (five lakh) equity
shares of Rs.10/- (Rupees ten) each and the entire authorised share capital has
been issued, subscribed and paid up. The Board, therefore, decided that the
authorised share capital of the company be increased to Rs.5,00,00,000 (Rupees
five crore) divided into 50,00,000 (fifty lakh) equity shares of Rs.10/-
(Rupees ten) each.
Hence the proposed resolution is recommended for
consideration of and approval by the shareholders of the company.
None of the directors is concerned or interested
in the proposed resolution.
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