A private company's authorised capital specifies the maximum number of shares it may sell. There is no minimum capital required as per the new Companies Act of 2013. To issue new shares or to raise the authorised capital, the capital clause of the Memorandum of Association is amended by passing an ordinary resolution by the board.
Check if the company's AOA allows it to raise its authorised capital. If the AOA is not authorised, you must pass a special resolution to amend it.
Hold a board meeting and pass a resolution to increase the authorised capital of the company and decide the day, date, time, and place for the extraordinary general meeting. Provide notice to all members / shareholders, directors, and auditors of the company, stating the meeting's day, date, time, place, and agenda.
Convene, hold, and conduct an EGM on the designated date, place, and time, and pass a resolution seeking shareholder approval. If any forms are needed, they must be submitted within a certain time frame.
Alter the company's Memorandum of Association to raise the authorised share capital.
Within 30 days of passing the shareholders' resolution, file form SH-7 with the registrar of companies. If the resolution is passed as a special resolution, you must also file form MGT- 14 within 30 days of the resolution's passage.
As a proof of Identity: