Section 97 - Notice of increase of share capital or of members. - Companies Act, 1956

Notice of increase of share capital or of members. 97. (1) Where a company having a share capital, whether its shares have or have not been converted into stock, has increased its share capital beyond the authorised capital, and where a company, not being a company limited by shares, has increased the number of its members beyond the registered number, it shall file with the Registrar, notice [1] of the increase of capital or of members within [2] [thirty] days after the passing of the resolution authorising the increase; and the Registrar shall record the increase and also make any alterations which may be necessary in the company's memorandum or articles or both. (2) The notice to be given as aforesaid shall include particulars of the classes of shares affected and the conditions, if any, subject to which the new shares have been or are to be issued. (3) If default is made in complying with this section, the company, and every officer of the company who is in default, shall be punishable with fine which may extend to [3] [five hundred rupees] for every day during which the default continues. -------------------------------- Notes:- [1] See e-Form 5, Companies (Central Government's) General Rules and Forms, 1956. [2] Substituted by the Companies (Amendment) Act, 1965, Act 31 of 1965, section 62 and Schedule, for "fifteen" w.e.f. 15-10-1965. [3] Substituted for "fifty rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.