(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].]

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Footnote-

1. Subs. by Act 22 of 2019, s. 10, for sub-section (2) (w.e.f. 2-11-2018).

2. Subs. by s. 12, ibid., 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).