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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Companies Act Section 157: Firms Must Report Foreign Register Locations or Face Daily Fines for Non-compliance.</h1> Section 157 of the Companies Act, 1956, permits a company with share capital or issued debentures to maintain a foreign register of members or debenture holders in a state or country outside India, if authorized by its articles. The company must notify the Registrar of the location of the foreign register within thirty days of its opening, and similarly report any changes or discontinuance within thirty days. Non-compliance with these requirements results in a fine of up to five hundred rupees per day for the company and its officers responsible for the default.
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