95. NOTICE TO REGISTRAR OF CONSOLIDATION OF SHARE CAPITAL, CONVERSION OF SHARES INTO STOCK, ETC

 

(1) If a company having a share capital has –

(a) consolidated and divided its share capital into shares of larger amount than its existing shares ;

(b) converted any shares into stock ;

(c) re-converted any stock into shares ;

(d) sub-divided its shares or any of them ;

(e) redeemed any redeemable preference shares ; or

(f) cancelled any shares, otherwise than in connection with a reduction of share capital under sections 100 to 104 ; the company shall within thirty days after doing so, give notice thereof to the Registrar specifying, as the case may be, the shares consolidated, divided, converted, sub-divided, redeemed or cancelled, or the stock reconverted.

(2) The Registrar shall thereupon record the notice, and make any alterations which may be necessary in the company’s memorandum or articles or both.

(3) If default is made in complying with sub-section (1), the company, and every officer of the company who is in default, shall be punishable with fine which may extend to five hundred rupees for every day during which the default continues.

 

 

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