Increase in Authorised Share Capital and alteration in the Memorandum of Association of the Company
“RESOLVED THAT pursuant to the provisions of Section 4, 13, 61 and other applicable provisions, if any, of the Companies Act, 2013, read with the applicable Rules framed thereunder ( including any enactment(s), re-enactment(s) or statutory modification(s) thereof for the time being in force), consent of the Members of the Company be and is hereby accorded to increase the Authorised Share Capital of the Company from existing Rs 2,00,000/- (Rupees Two lacs only) divided into 20,000 (Twenty thousand) Equity Shares of Rs 10/- (Rupees Ten only) each to Rs 10,00,000/- (Rupees Ten lacs only) divided into 1,00,000 (One lac) Equity Shares of Rs 10/- (Rupees Ten only) each by creation of 8,000 (Eight Thousand) Equity Shares of Rs 10/- (Rupees Ten only) each ranking pari passu with the existing Equity Shares of the Company.
RESOLVED FURTHER THAT the Memorandum of Association of the Company be and is hereby altered by substituting the existing Clause 5 thereof with the following new Clause 5:
5: The Authorised Share Capital of the Company is Rs 10,00,000/- (Rupees Ten lacs only) divided into 1,00,000 (One lac) Equity Shares of Rs 10/- (Rupees Ten only) each.
RESOLVED FURTHER THAT any Director of the Company be and is hereby severally authorised to do all such acts, deeds, matters and things as may be deemed proper, necessary or expedient, including but not limited to filing of necessary e-forms with the Ministry of Corporate Affairs for the purpose of giving effect to this resolution and for matters connected therewith or incidental thereto.”
Explanatory Statement pursuant to Section 102 of the Companies Act, 2013.
The present Authorised Share Capital of the Company is Rs 2,00,000/- (Rupees Two lacs only) divided into 20,000 (Twenty thousand) Equity Shares of Rs 10/- (Rupees Ten Only) each. In order to achieve the expansion goals of your company the Board has considered necessary to increase the Authorised Share Capital of the Company from present Rs 2,00,000 (Rupees Two lacs only) to Rs 10,00,000/- (Rupees Ten lacs only).
As per Section 61 and other applicable provisions, if any, of the Companies Act, 2013, the proposed increase in Authorised Share Capital requires the approval of Members in General Meeting. Consequent upon increase in Authorised Share Capital, the Memorandum of Association of the Company will require alteration so as to reflect the increased Authorised Share Capital.
A copy of the existing and proposed set of new Memorandum of Association would be available for inspection for the Members at the Registered Office of the Company during the business hrs on any working day till the date of Extra Ordinary General Meeting and copies thereof shall also be made available for inspection at the Extra Ordinary General Meeting.
The proposed resolution is in the interest of the Company and your directors recommend the same for your approval.
None of the Directors and their relatives are concerned or interested in the aforesaid resolution.