Achyut Bal (Sr Manager) 13 January 2013
Our Society was registered with 50 Members while registration based on the plan updated. Now Builder has go 2 more members and plan is approved these 2 members are not part of 50 Members. Authorized capital was made based on 50 members and now need to increase it ...
please let me know the formalities to complete
Regards
Achyut
Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 03 June 2015
1. Typically "authorized capital" is ALWAYS more than the "paid up capital"
2. Pass a General Body resolution to increase the "authorized capital" (if applicable) and take approval of the same from the local cooperative registrar.
Keep Smiling .... Hemant Agarwal
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Vignesh R 01 July 2022
The authorization of capital is also important for the health of a housing society as it is one of the most important financial tools used to finance the developments needed to increase the stock of housing on the market. The increase in the amount of capital in a housing society thus helps generate more investment in new housing and increases the life of the existing stock of housing.
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