Notice to be Given to Registrar for Alteration of Share Capital

Notified Date of Section: 01/04/2014

64. (1) Where—

(a) a company alters its share capital in any manner specified in sub-section (1) of section 61;

(b) an order made by the Government under sub-section (4) read with sub-section (6) of section 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 Registrar within a period of thirty days of such alteration or increase or redemption, as the case may be, along with an altered memorandum.

3,[2[1[(2) Where any company fails to comply with the provisions of sub-section (1), such company and every officer who is in default shall be liable to a penalty of 4[five hundred rupees] for each day during which such default continues, 5[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.]]]]

Amendments

In section 64 of the principal Act, for sub-section (2)
If a company and any officer of the company 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.
the following sub-section shall be substituted, namely:
“Where any company fails to comply with the provisions of sub-section (1), such company and every officer who is in default shall be liable to a penalty of one thousand rupees for each day during which such default continues, or five lakh rupees whichever is less.”
2.Substituted by the Companies (Amendment) Ordinance,2019 dated 12.01.2019    [Companies (Amendment) Ordinance 2018 is repealed on 12th January 2019] 
3. Substiuted by the Companies (Amendment) Act,2019 -: Effective From 02nd November 2018   [Companies (Amendment) Second Ordinance 2019 is repealed on 31st July 2019]
in sub-section (2) for the words,
one thousand rupees
the following shall be substituted namely,
five hundred rupees.
in sub-section (2) for the words,
or five lakh rupees whichever is less
the following shall be substituted namely,
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.
 

 

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