(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.
1[(2) where any company fails to comply with the provisions of sub-section (1), such company rupees and every officer who is in default shall be liable to a penalty of 2[five hundred rupees] for each day during which such default continues, 3[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].]
Footnotes in the official text
- 1.Subs. by Act 22 of 2019, s. 10, for sub-section (2) (w.e.f. 2-11-2018).
- 2.Subs. by Act 29 of 2020, s. 12, for “one thousand rupees” (w.e.f. 21-12-2020).
- 3.Subs. by s. 12, ibid., for “or five lakh rupees whichever is less” (w.e.f. 21-12-2020).