Notice to be given to Registrar for alteration of share capital
(1)
Where—
(a)
a company alters its shareshare capital in any manner specified in sub-section (1) of section 61section 61;
(b)
an order made by the Government under sub-section (4) read with sub-section (6) of section 62section 62 has the effect of increasing authorised capital of a company; or
(c)
a company redeems any redeemable preference shares, the company shall file a notice in the prescribed form with the RegistrarRegistrar within a period of thirty days of such alteration or increase or redemption, as the case may be, along with an altered memorandummemorandum .
(2)
Where any company fails to comply with the provisions of sub-section (1), such company and every officerofficer who is in default shall be liable to a penalty of five hundred rupees one thousand rupees for each day during which such default continues, subject to a maximum of five lakh rupees in case of a company and one lakh rupees in case of an officer who is in default. or five lakh rupees whichever is less .
(2)
If a company and any officer of the comp any who is in default contravenes the provisions of sub-section (1), it or he shall be punishable with fine which may extend to one thousand rupees for each day during which such default continues, or five lakh rupees, whichever is less.
Notes, amendments & references (3)
Refer rule 15 and Form No. SH 7 of the Companies (Share Capital and Debentures) Rules, 2014. To view the rule, Click Here
(2) Substituted vide the Companies (Amendment) Act, 2019 dated 31.07.2019 w.e.f., 02.11.2018. To view the Amendment Act, Click Here .
Substituted vide Companies (Amendment) Act, 2020 dated 28.09.2020 with effect from 21.12.2020. To view the Act, Click Here . To view the commencement notification, Click Here .