COMPANIES ACT 2013: SECTION 60 – PUBLICATION OF SHARE CAPITAL
Section 60 of Companies Act 2013 provides for compulsory publication of subscribed as well as paid-up capital in the company’s financial statements and other key documents, which mentions the authorised capital . If default is made, the company shall be punishable with penalty which may extent upto ₹10,000 and every officer in default pay a penalty of ₹ 5,000 for each day of default . This provision is added so that a company may not mislead the public by showing grand figure of Authorised Capital but having very little Paid- up Capital.
Section 60 of the Companies Act 2013
[Compelling from twelfth September 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 authorized 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 subsection (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.
Stay Updated with Business & Compliance Insights
Get expert updates on Company Registration, Trademark, GST, Tax Filing, and Startup Compliance delivered to your inbox.
Related Posts
Get your business a separate legal identity, limited liability protection, and easier access to funding.
Register a Limited Liability Partnership with flexible structure and lower compliance requirements.
Start your business journey as a single founder with limited liability protection.
Empowers entrepreneurs with government recognition, tax benefits, funding support, and simplified compliance.
Give your business a premium address and professional presence without the cost of a physical space.
Ensure legal, financial, and regulatory obligations and maintain the company’s good standing legally.
Register for Goods and Services Tax to legally collect tax from your customers.
Register as a Micro, Small, or Medium Enterprise to avail government benefits.
Obtain your FSSAI license to legally sell and serve safe food in India.
Comments