Amended and updated notes on section 64 of Companies Act 2013. Detail discussion on provisions and rules related to notice to be given to Registrar for alteration of share capital.
Chapter IV (Sections 43–72) of the Companies Act, 2013 (CA 2013) deals with the provisions related to share capital and debentures. Section 64 of CA 2013 provides for notice to be given to Registrar for alteration of share capital.
Recently, we have discussed in detail section 63 (Issue of bonus shares) of CA 2013. Today, we learn the provisions of section 64 of Companies Act 2013 read with the Companies (Share Capital and Debentures) Rules, 2014.
Section 64 of the Companies Act, 2013 has been notified by the Ministry of Corporate Affairs (MCA) vide Notification No. S.O. 902(E) issued dated 27.03.2014. This notification was come into force from 1st April, 2014 i.e. the commencement date of section 64 is 1-4-2014.
Name of Act | The Companies Act 2013 |
---|---|
Enacted by | Parliament of India |
Administered by | Ministry of Corporate Affairs (MCA) |
Number of Chapters | 29 |
Number of Sections | 484 (470-43+57) |
Number of Schedules | 7 |
You are reading: | |
Chapter No. | IV |
Chapter Name | Share Capital and Debentures |
Section No. | 64 |
Section Name | Notice to be given to Registrar for alteration of share capital |
Monthly Updated Edition | Company Law PDF |
Section 64 of Companies Act 2013: Notice to be given to Registrar for alteration of share capital
Section 64 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.
(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.
(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 one thousand rupees for each day during which such default continues, or five lakh rupees whichever is less.