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CS Executive · Company Law and Practice · Share and Share Capital - Concepts

Sagar Pharma Ltd passed a resolution on 1 March increasing its authorised capital under Section 61(1)(a). By when must it file the notice in the prescribed form with the Registrar along with the altered memorandum under Section 64?

The company must file the notice within thirty days of the alteration. Section 64(1) requires a notice in the prescribed form with the Registrar, accompanied by an altered memorandum, within thirty days of increasing authorised capital or other Section 61 alterations.

  1. AWithin thirty days of the alterationCorrect
  2. BWithin sixty days of the alteration
  3. CWithin ninety days of the alteration
  4. DWithin fourteen days of the alteration

Explanation

Section 64(1) requires the company to file a notice in the prescribed form with the Registrar within thirty days of the alteration, along with an altered memorandum. Failure attracts a daily penalty of Rs 500 subject to maximum limits.

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