Section 64 of CA 2013 : Section 64: Notice To Be Given To Registrar For Alteration Of Share Capital

Explanation using Example

Imagine a company named "Bright Future Tech Pvt. Ltd." decides to issue additional shares to raise more capital for expansion. According to Section 61(1) of the Companies Act, 2013, they have altered their share capital by issuing new shares. As per Section 64(1), the company must file a notice with the Registrar of Companies (RoC) within 30 days of the alteration, along with an updated memorandum reflecting this change.

If Bright Future Tech Pvt. Ltd. fails to file the required notice within the specified time, the company and its officers will face a penalty. According to Section 64(2), the penalty is 500 rupees for each day the default continues. This penalty can go up to a maximum of five lakh rupees for the company and one lakh rupees for each defaulting officer.