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C o m m e n c e m e n t o f B u s i n e s s b y

a P u b l i c C o m p a n y

Part 8 -Management and Administration Registered oce, Publication of Names, Etc

Part 8 -Management and AdministrationPart 8 -Management and AdministrationRegistered oce, Publication of Names, EtcRegistered oce, Publication of Names, Etc

!"# Registered oce of company$% a company s&all

' as from t&e day on (&ic& it begins to carry on business, or

) as from t&e "8t& day after t&e date of its incorporation,

(&ic&e*er is t&e earlier,

&a*e a registered oce to (&ic& all communications and notices may be

addressed#

$"% Notice of t&e situation of t&e registered oce and of any c&ange t&erein s&all be

gi*en (it&in "8 days after t&e date of t&e incorporation of t&e company or of t&ec&ange as t&e case may be, to t&e registrar (&o s&all record t&e same#

$+% &e inclusion in t&e annual return or any ot&er document of a company of t&e

statement as to t&e address of its registered oce s&all not be taen to meet t&e

re.uirements of sub-section (2) #

!+# Publication of name by a limited company E*ery limited company -

$a% s&all paint or a/, and eep painted or a/ed, its name on t&e outside of e*eryoce or place in (&ic& its business is carried on, in a conspicuous position, in

letters easily legible and in Englis& or 0rdu c&aracters, and also, if t&e registered

oce is situate in a place beyond t&e local limits of t&e ordinary original ci*il

1urisdiction of a 2ig& Court, in t&e c&aracters of one of t&e *ernacular languages

used in t&at place3

$b% s&all &a*e its name engra*ed in legible Englis& or 0rdu c&aracters on its seal3

$c% s&all &a*e its name mentioned in legible Englis& or 0rdu c&aracters,

in all bill- &eads and letter papers and in all documents, notices and ot&er ocialpublications of t&e company, and in all bills of e/c&ange, &undis, promissory

notes, endorsements, c&e.ues and orders for money or goods purporting to

be signed by or on be&alf of t&e company, and in all bills of parcels, in*oices,

receipts and letters of credit of t&e company#

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!!# Penalties for non-publication of name$% 4f a limited company does not paint or a/, and eep painted or a/ed, its name

in manner directed by t&is 5rdinance, it s&all be liable to a 6ne (&ic& may e/tend

to "77 rupees for e*ery day during (&ic& its name is not so ept painted or a/ed,

and e*ery ocer of t&e company (&o no(ingly and (ilfully aut&orises or permits t&e

default s&all be liable to t&e lie penalty#

$"% 4f any ocer of a limited company , or any person on its be&alf, uses or aut&orises

t&e use of any seal purporting to be a seal of t&e company (&erein its name is not

so engra*e as aforesaid, or issues or aut&orises t&e issue of any bill-&ead, letter

paper, document, notice or ot&er ocial publication of t&e company, or signs or

aut&orises to be signed on be&alf of t&e company any bill of e/c&ange, &undi,

promissory note, endorsement, c&e.ue or order for money or goods, or issues or

aut&orises to be issued any bill of parcels, in*oice, receipt or letter of credit of t&e

company, (&erein its name is not mentioned in manner aforesaid, &e s&all be liable

to a 6ne (&ic& may e/tend to ",777 rupees, and s&all furt&er be personally liable tot&e &older of any suc& bill of e/c&ange, &undi, promissory note, c&e.ue or order for

money or goods, for t&e amount t&ereof, unless t&e same is duly paid by t&e company#

!# Publication of aut&orised as (ell as paid-up capital$% 9&ere any notice, ad*ertisement or ot&er ocial publication of a company

contains a statement of t&e amount of t&e aut&orised capital of t&e company, suc&

notice, ad*ertisement or ot&er ocial publication s&all also contain a statement in

an e.ually prominent position and in e.ually conspicuous c&aracters of t&e amount

of t&e capital (&ic& &as been subscribed and t&e amount paid up#$"% Any company (&ic& maes default in complying (it& t&e re.uirements of sub-

section (1) and e*ery ocer of t&e company (&o is no(ingly a party to t&e default

s&all be liable to a 6ne (&ic& may e/tend to ,777 rupees#

"

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Commencement of Business by aCommencement of Business by a Public Company Public Com pany

!:# Restrictions on commencement of business$% A company s&all not commence any business or e/ercise any borro(ing po(ers

unless;

$a% s&ares &eld sub1ect to t&e payment of t&e (&ole amount t&ereof in cas& &a*e

been allotted to an amount not less in t&e (&ole t&an t&e minimum subscription3

$b% e*ery director of t&e company &as paid to t&e company full amount on eac& of

t&e s&ares taen or contracted to be taen by &im and for (&ic& &e is liable to

pay in cas&3

$c% no money is or may become liable to be repaid to applicants for any s&ares or

debentures (&ic& &a*e been o

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