Every business require fund for smooth working of its business. There are two main sourceof funds on which every business depends. First, owned funds i.e. from internal source by way of infusing capital, once infused become the capital of the business and the other is borrowed funds i.e. taking loan from the banks and other financial institutions, which needs to be repaid along with interest thereon. Further, every company is authorized with a limit upto which they can issue and the same is known as Authorized share capital of a company. This is the maximum limit upto which a company can raise funds. In case the authorized limit gets exhausted, then the said limit can be increased with the approval of shareholder, by way of passing Ordinary resolution for alteration of its Memorandum of Association and increase its authorized share capital. Every such alteration shall be in effect only if registered and recorded by the Registrar of Companies (ROC). Therefore, before raising capital beyond the authorized capital, one has to raise it’s authorize capital and file necessary form so as to avoid hurdles in raising capital. Here, Complianceship, helps you to increase the Authorized Share Capital without any hassle.
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