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The Companies Act, 1956

Title : The Companies Act, 1956

Year : 1956

 

Sec152    -     Register and index of debentureholders.

    (1) Every company shall keep in one or more books a register of the holders of its debentures and enter therein the following particulars, namely :

      (a) the name and address, and the occupation, if any, of each debenture holder ;

      (b) the debentures held by each holder distinguishing each debenture by its number except where such debentures are held with a depository, and the amount paid or agreed to be considered as paid on those debentures ;

      (c) the date at which each person was entered in the register as a debenture holder ; and

      (d) the date at which any person ceased to be a debenture holder.

    (2)

      (a) Every company having more than fifty debenture holders shall, unless the register of debenture holders is in such a form as in itself to constitute an index, keep an index (which may be in the form of a card index) of the names of the debenture holders of the company and shall, within fourteen days after the date on which any alteration is made in the register of debenture holders, make the necessary alteration in the index.

      (b) The index shall, in respect of each debenture holder, contain a sufficient indication to enable the entries relating to that holder in the register to be readily found.

    (3) If default is made in complying with sub-section (1) or (2), the company, and every officer of the company who is in default, shall be punishable with fine which may extend to five hundred rupees.

    (4) Sub-sections (1) to (3) shall not apply with respect to debentures which, ex facie, are payable to the bearer thereof.


Last updated on May, 2015

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