Alteration of MOA for increase in authorized share capital_Special Resolution or Ordinary Resolution?

[PRANAY PATEL]

Dear All,

Pls clarify whether special resolution required for alteration of capital clause of MOA or it can be done through ordinary resolution.

Best Regards

Pranay 

[Ravi Patidar]

 it can be done through ordinary resolution.

CS RAVI PATIDAR

Proprietor

Ravi Patidar & Associates

(CS, B,Com, LLB)

 Mob:9993208461

ICSI Unique Code: 52022MP859100 

Peer Review Certificate No. 3493/2023

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[Navneet Rathal]

Ordinary Resolution is sufficient for alteration of capital clause.

Thanks & Regards,

CS Navneet Rathal 

Rathal & Associates, Company Secretaries 

Address: Flat No. 11, Radharam Krushna Building, Second Floor, Near Tilak Smarak Mandir, Gopal Gyan Samaj Lane, Pune - 411030, Maharashtra, India.

Contact No.:  +91 9166263177, 9928763177

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[PRANAY PATEL]

But Section 13 says that for alteration in MOA, special resolution is required.

Best Regards

Pranay

 

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[Ravi Patidar]

read section 61 

CS RAVI PATIDAR

Proprietor

Ravi Patidar & Associates

(CS, B,Com, LLB)

 Mob:9993208461

ICSI Unique Code: 52022MP859100 

Peer Review Certificate No. 3493/2023

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[PRANAY PATEL]

Actually the answer lies in section 13.

The very start of section 13 says that "Save as otherwise provided in section 61.....

& section 61 is silent on passing of special resolution for increase in authorised share capital.

So, it's an indirect exemption to alter the capital clause of MOA without passing special resolution, otherwise alteration in MOA requires passing of special resolution in all other cases.

Thanks everyone for your views.

Best Regards

Pranay

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