Section 60.Publication of authorised, subscribed and paid-up capital.
Effective from 12-09-2013
(1) Where any notice, advertisement or other official publication, or any business letter, billhead or letter paper of a company contains a statement of the amount of the of the company, such notice, advertisement or other official publication, or such letter, billhead 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 of the company who is in default shall be liable to pay a penalty of five thousand rupees, for each default.
Authorised Capital means such capital as is authorised by the memorandum of a company to be the maximum amount of share capital of the company
2(59) Officer includes any director, manager or key managerial personnel or any person in accordance with whose directions or instructions the Board of Directors or any one or more of the directors is or are accustomed to act