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60 Publication of authorised, subscribed and paid-up Capital.

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CHAPTER IV

Section 60 of Companies Act 2013

1.     Where any notice, advertisement or other official publication, or any business letter, bill head or letter paper of a company contains a statement of the amount of the authorised capital of the company, such notice, advertisement or other official publication, or such letter, bill head or letter paper shall also contain a statement, in an equally prominent position and in equally conspicuous characters, of the amount of the capital which has been subscribed and the amount paid-up.

2.     If any default is made in complying with the requirements of sub-section (1), the company shall be liable to pay a penalty of ten thousand rupees and every officer of the company who is in default shall be liable to pay a penalty of five thousand rupees, for each default.

Short Notes:

  • This section came into force from September 12, 2013.
  • It seeks to provide that where any notice, advertisement or other official publication, or any business letter, etc., of a company contains a statement of the amount of the authorized capital of the company, such notice, advertisement or other official publication, or such letter, bill head or letter paper shall also state the subscribed and paid up capital.
  • The section further provides penalty for the company and every officer of company in default in case of any contravention.

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