Section 88, The Companies Act, 2009

Where a company passes a resolution increasing its sharecapital, the increase shall not take effect unless– share capital by consolidation etc. Increase of share capital and notice of increase. Increase of paid-up capital on increase of 62 63 (a) within 6 months of giving notice of the increase to the Commission not less than 25 per cent of the share capital including the increase has been issued; and (b) the directors have delivered to the Commission a statutory declaration verifying that fact.