The issued capital of the company cannot be more than _____ capital.

NCERT (2026-27 edition):
Categories of Share Capital – “… Authorised Capital: Authorised capital is the amount of share capital which a company is authorised to issue by its Memorandum of Association. The company cannot raise more than the amount of capital as specified in the Memorandum of Association. It is also called Nominal or Registered capital. … Depending upon its requirement, it may issue share capital but in any case, it should not be more than the amount of authorised capital.
Issued Capital: It is that part of the authorised capital which is actually issued to the public for subscription including the shares allotted to vendors and the signatories to the company’s memorandum.”