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Alternation of capital clause
Corporate & Other Laws
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.
Answers (5)
CA Suraj Lakhotia Admin
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?
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