Company register closure permitted up to 45 days annually with specified notice; breaches attract daily monetary penalties capped at Rs. 100,000.

A company may close the register of members, debenture-holders or other security holders for up to forty-five days annually and not more than thirty days at a stretch, provided at least seven days' prior notice or a shorter notice as prescribed for listed companies is given in the prescribed manner. Closure without the required notice, with shorter notice, or beyond the statutory periods attracts a penalty of five thousand rupees per day, capped at one lakh rupees, against the company and every officer in default.

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