Registers of members and debenture
holders:
The provision
related to register of members as provided in Section 150 is as follows:
(A) Register of
members:
(i) Contents:
Every company shall keep in one or more books a register of its members, and
enter there are the following particulars:
(a) The name
and address and the occupation, if any, of each member
(b) In the case
of company having a share capital, the shares held by each member, distinguish
each share by its member except where such shares are held with a depository
and the amount paid or agreed to the considered as paid on those shares.
(c) The date at
which each person was entered in the register as a member; and
(d) The date at
which any person ceased to be a member. Provided that where the company has
converted any of its shares into stock and given notice of the conversion to
the Registrar, the register shall show the amount of stock held by each of the
members concerned instead of the shares so converted which were previously held
by him.
(ii) Penalty for
default: If default is made in complying with sub-section (1), the company and
every officer of the company who is in default, shall be punishable with fine which may extend to
five hundred rupees for every day during which the default continues.
(B) Foreign
register: Power of company to keep foreign register of members or debenture holders
is as follows:
(i) Maintenance
of branch register: A company which has a share capital or which has issued
debentures may, if so authorised by its articles, keep in any share or country outside
India a branch register (foreign register) of members or debenture-holders resident
in that state or country.
(ii) Period of
filing notice: The company shall, within thirty days from the date of the opening
of any foreign register, file with the registrar notice of the situation of the
office where such register is kept; and in the event of any change in the
situation of such office or of its discontinuance, shall, within thirty days
from the date of such charge of discontinuance, as the case may be, file notice
with the Registrar of such change or discontinuance.
(iii) Penalty:
If default is made in complying with the requirements of the above section, the company, and every officer of
the company who is in default, shall be punishable with fine which may extend
to five hundred rupees for every day during which the default continues.
(iv) Part of
register: A foreign register shall be deemed to be part of the company’s register
of members or of debenture holders, as the case may be.
(C) Rectification
(Alteration) of register of members: The person aggrieved, or any member of the
company, or the company, may apply to the Tribunal for rectification of the
register, if:
(i) the name of
any person: (a) is, without sufficient cause, entered in the register of
members of a company; or (b) after having been entered is the register, is,
without sufficient cause, omitted there from; or
(ii) default is
made, or unnecessary delay takes place, in entering in the register the fact of
any person having becomes, or ceased to be a member.
The Tribunal
while dealing with an appeal or application made under above section may, after
hearing the parties, either dismiss appeal or reject the application.
Post a Comment
Kindly give your valuable feedback to improve this website.