Section 64: Notice to be given to Registrar for alteration of share capital
Companies Act, 2013 · Chapter IV: Share Capital And Debentures · In force
This section requires companies to notify the Registrar of changes to their share capital within a specified timeframe and imposes penalties for non-compliance.
Penalty
(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].]
The section, clause by clause
What the section says
In plain terms
(1)Where—
A company must notify the Registrar within 30 days if it alters its share capital, if the Government increases its authorised capital, or if it redeems redeemable preference shares, and must file an altered memorandum.
(1)(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
(1)(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 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].]
If a company fails to comply, it and every defaulting officer will be liable to a penalty of 500 rupees for each day of default, up to a maximum of 5 lakh rupees for the company and 1 lakh rupees for the officer.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
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).
Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.