SR and MGT 14 for Increase in Authorised Capital of Private Limited Company

[BalaJi Srivastava]

Dear Members,

Kindly clarify the position that whether MGT 14 is required to be filed for SH 7 for Increase in authorized capital of a private company or not.

Further what basic changes needs to be made in Alteration of AOA as per new law for increase in AC of the company. 

My view for Sec 61 is for Limited Company and not private company..further the words of Rule 15 of ICDR 2014 is

Where a company alters its share capital in any manner specified in sub-section (1) of section 61, or an order is 

passed by the Government increasing the authorized capital of the company in pursuance of sub-section (4) read 

with sub-section (6) of section 62 or a company redeems any redeemable preference shares, the notice of such 

alteration, increase or redemption shall be filed by the company with the Registrar in Form No. SH.7 along with 

the fee. 

MEANS ALL TYPES OF COMPANIES...I am of the view following good governance practices the MGT 14 is to be filed...Kindly advice any alternate view on this..Many thank in advance.

Thanks and Regards,

Balaji Srivastava
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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[BalaJi Srivastava]

Any responses !!! Bit urgent

Thanks and Regards,

Balaji Srivastava
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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[CS Simranjeet Singh]

Hello BalaJi.. in my view form MGT 14 need not be filed because The section 13 starts with "Save as provided in Sec 61" which gives saving option and according to which for alteration of capital clause of MOA no need to pass SR.. further u r required to attach only MOA with form SH-7.. other views solicited..

 

 Warm Regards

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[BalaJi Srivastava]

Many thanks for the confirmation. I am also of the view now that MGT 14 is not required looking at the ICDR Regulation. Also I want to further ask what changes we need to make to MOA and AOA of the company as per new law regarding change in AC of the company?

Thanks and Regards,

Balaji Srivastava
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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The contents of this e-mail are confidential to the ordinary user of the e-mail address to which it was addressed and may also be privileged. If you are not the addressee of this e-mail you may not copy, forward, disclose or otherwise use it or any part of it in any form whatsoever. If you have received this e-mail in error please e-mail the sender by replying to this message.

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[CS Simranjeet Singh]

 i also hav to increase AC for my Company but haven't started yet but in my view For MOA u hav to make necessary changes on the first page.. like ca, 2013..... put in changed sections wherever written.. no need to do anything with other objects as non req of having no objects is for new companies.. for existing co's nothing is mentioned.. lastly make change in the capital clause...

no need to attach articles if amendment of capital clause doesn;t alter articles..

[BalaJi Srivastava]

Many thnaks for the Confirmation:

Sharing you final conclusion based on mY interpretation of Law:

A) Filing of MGT 14...whether or Not:  In my opinion MGT 14 is not required to be filed in case of Private Company, Since Section 61(1) seaks specifically for Limited Companies. Further Rule 15 speaks for manner specified in sub-section (1) of section 61, which is again limited company. Though my case is for Private Company, hence this clause not applicable.

B) Changes in MOA: My Conclusions are,  change should be only with regard to Authorised Capital, Since any change in MOA or AOA needs to go through Shareholders Resolution and MGT 14 would be applicable.

One of my contradictory view on this, If we are filing MBP 1 in the form of MGT 14, Do we also need to alter the MOA and AOA of the company or only MBP 1 can be uploaded ???

Hope this suffice. Awaiting views!!! 

Thanks and Regards,

Balaji Srivastava
Mobile: +91 (0)987-316-9769
Email:bbala...@gmail.com

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The contents of this e-mail are confidential to the ordinary user of the e-mail address to which it was addressed and may also be privileged. If you are not the addressee of this e-mail you may not copy, forward, disclose or otherwise use it or any part of it in any form whatsoever. If you have received this e-mail in error please e-mail the sender by replying to this message.

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