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To alter share capital under Sec 61, what type of resolution and what authority is needed?
AOrdinary resolution in general meeting (if authorised by Articles)
BSpecial resolution + Tribunal
CBoard resolution only
DOnly NFRA approval
Answer & Solution
Correct answer: A. Ordinary resolution in general meeting (if authorised by Articles)
1. Step 1: Sec 61 permits a limited company to alter share capital by ordinary resolution if so authorised by Articles.
2. Step 2: No Tribunal approval needed for alteration (unlike reduction under Sec 66).
3. Step 3: Hence (B).
_Source: ICAI BoS CA Inter Paper 1, Ch 14 "Internal Reconstruction"_