Chamber of Prakash K. Pandya

Section 60 Publication of authorised, subscribed and paid-up capital.

CHAPTER IV
SHARE CAPITAL AND DEBENTURES

[Section 60 is brought to force with effect from September 12, 2013.]

Publication of authorised, subscribed and paid-up capital.

Section 60. (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 authorised capital 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 officer of the company who is in default shall be liable to pay a penalty of five thousand rupees, for each default.

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