Section 64 of the Companies Act, 2013
Section 64 of the Companies Act, 2013 deals with the "Notice to be given to Registrar for alteration of share capital."
📘 Full Text Summary of Section 64:
Whenever a company alters its share capital, it must notify the Registrar of Companies (ROC) about such changes.
✅ Key Provisions of Section 64:
Applicability:
When a company alters its share capital due to any of the following:
Increase in authorized share capital under Section 61
Consolidation/division of shares
Conversion of shares into stock or vice versa
Sub-division of shares
Cancellation of unsubscribed shares
Redeeming preference shares
Filing Requirement:
The company must file a notice in Form No. SH-7 with the Registrar within 30 days of the alteration.
Details to be Included:
Altered memorandum
The nature and date of alteration
Reason for alteration
Penalty for Non-compliance:
Company and every officer in default shall be liable to a penalty of ₹1,000 for each day during which the default continues.
Maximum penalty: ₹5,00,000 for company and ₹1,00,000 for each officer.
🧾 Example:
If a company decides to increase its authorized share capital from ₹10 lakh to ₹20 lakh, it must file Form SH-7 with the ROC within 30 days, along with a copy of the altered Memorandum of Association.
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