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Registration of offer of schemes involving transfer of shares

or any class of shares in the transferor company to the transferee company under section 237,- (a) every circular containing such offer and recommendation to the members of the transferor company by its directors to accept such offer shall be accompanied by such information and in such manner as may be prescribed; (b) every such offer shall contain a statement by or on behalf of the transferee com .....

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and registered under clause (c) of sub-section (1), shall be 1[liable to a penalty of one lakh rupees]. ********* Notes 1. Substituted vide THE COMPANIES (AMENDMENT) ACT, 2019 w.e.f. 02-11-2018 before it was read as "punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to five lakh rupees" - Statutory Provisions, Acts, Rules, Regulations, Ta .....

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