Amended and updated notes on section 60 of Companies Act 2013. Detail discussion on provisions and rules related to publication of authorised, subscribed and paid-up capital.
Chapter IV (Sections 43–72) of the Companies Act, 2013 (CA 2013) deals with the provisions related to share capital and debentures. Section 60 of CA 2013 provides for publication of authorised, subscribed and paid-up capital.
Recently, we have discussed in detail section 59 (Rectification of register of members) of CA 2013. Today, we learn the provisions of section 60 of Companies Act 2013 read with the Companies (Share Capital and Debentures) Rules, 2014.
Section 60 of the Companies Act, 2013 has been notified by the Ministry of Corporate Affairs (MCA) vide Notification No. S.O. 2754(E) issued dated 12.09.2013. This notification was come into force from 12th September, 2013 i.e. the commencement date of section 60 is 12-9-2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | IV |
| Chapter Name | Share Capital and Debentures |
| Section No. | 60 |
| Section Name | Publication of authorised, subscribed and paid-up capital |
| Monthly Updated Edition | Company Law PDF |
Section 60 of Companies Act 2013: Publication of authorised, subscribed and paid-up capital
Section 60 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 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 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.