Share capital disclosure requires statements of subscribed and paid-up capital alongside authorised capital, with penalties for non-compliance. Any public statement of a company's authorised capital in notices, advertisements, official publications or business stationery must also state, in equally prominent and conspicuous characters, the amounts of capital that have been subscribed and that have been paid up. Failure to comply attracts a monetary penalty against the company and a separate monetary penalty against every officer of the company who is in default, each imposed for each default.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Share capital disclosure requires statements of subscribed and paid-up capital alongside authorised capital, with penalties for non-compliance.
Any public statement of a company's authorised capital in notices, advertisements, official publications or business stationery must also state, in equally prominent and conspicuous characters, the amounts of capital that have been subscribed and that have been paid up. Failure to comply attracts a monetary penalty against the company and a separate monetary penalty against every officer of the company who is in default, each imposed for each default.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
