IndigoLearn
Venkateshwara Prabhu

Venkateshwara Prabhu

CA Inter

8K+

09-May-20 18:35

26

Alternation of capital clause

Sir, In the lecture of alteration of capital clause in incorporation of companies chapter it was told that central government authorization was required for alteration in capital clause however in Munich bhandari law guide it is told that alteration of Capital clause doesn't require central government authorization. Plz refer first point in the second screenshot and do clarify on the same.

Attachments

IMG_20200509_182740.jpg

IMG_20200509_182750.jpg

Answers (5)

Venkateshwara Prabhu

Venkateshwara Prabhu

CA Inter

8K+

09-May-20 18:46

And in the book it is mentioned that ordinary resolution is to be passed rather than special resolution... For the above point plz refer 1st screenshot .

Suraj Lakhotia

Suraj Lakhotia

Admin

09-May-20 19:10

I just went through the lecture. It is mentioned intimation to CG and not approval. A special resolution is required for alteration of articles if the same does not have provision for alteration of capital clause.

Venkateshwara Prabhu

Venkateshwara Prabhu

CA Inter

8K+

09-May-20 19:14

Suraj Lakhotia

Suraj Lakhotia

Admin

09-May-20 19:10


I just went through the lecture. It is mentioned intimation to CG and not approval. A special resolution is required for alteration of articles if the same does not have provision for alteration of capital clause.

Sir, if alternation of capital clause is not mentioned in articles of association then company should pass a special resolution on allowing the same. After that should the company again pass an ordinary resolution for alteration of capital clause to the amount they want?

Venkateshwara Prabhu

Venkateshwara Prabhu

CA Inter

8K+

09-May-20 21:31

Suraj Lakhotia

Suraj Lakhotia

Admin

09-May-20 21:22


Yes

Ok sir thank you