Notice requirement for alteration of share capital requires filing with Registrar; failure attracts penalties and daily fines. Companies must file a notice in the prescribed form with the Registrar, together with an altered memorandum, within thirty days of any alteration of share capital, any increase in authorised capital resulting from a governmental order, or redemption of redeemable preference shares. Non-compliance by the company or any officer in default triggers penalties comprising a daily fine for each day the default continues up to a statutory maximum.
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Provisions expressly mentioned in the judgment/order text.
Notice requirement for alteration of share capital requires filing with Registrar; failure attracts penalties and daily fines.
Companies must file a notice in the prescribed form with the Registrar, together with an altered memorandum, within thirty days of any alteration of share capital, any increase in authorised capital resulting from a governmental order, or redemption of redeemable preference shares. Non-compliance by the company or any officer in default triggers penalties comprising a daily fine for each day the default continues up to a statutory maximum.
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