The Central Government on being satisfied that--
(a) the omission to give intimate to the Registrar of the
payment or satisfaction of a charge, within the time
required under this Chapter; or
(b) the omission or misstatement of any particulars, in any
filing previously made to the Registrar with respect to any
charge or modification thereof or with respect to any
memorandum of satisfaction or other entry made in pursuance
of section 82 or section 83,
was accidental or due to inadvertence or some other
sufficient cause or it is not of a nature to prejudice the
position of creditors or shareholders of the company, it
may, on the application of the company or any person
interested and on such terms and conditions as it deems just
and expedient, direct that the time for the giving of
intimation of payment or satisfaction shall be extended or,
as the case may require, that the omission or misstatement
shall be rectified.]
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1. Subs. by s. 13, ibid., for section 86 (w.e.f. 2-11-2018).
Section 88 of Indian Companies Act 2013 "Register of members, etc"
(1) Every company shall keep and maintain the following registers in such form and in such manner as may be prescribed, namely:--
(a) register of members indicating separately for each class of equity and preference shares held by each member residing in or outside India;
(b) register of debenture-holders; and
(c) register of any other security holders.
(2) Every register maintained under sub-section (1) shall include an index of the names included therein.
(3) The register and index of beneficial owners maintained by a depository under section 11 of the Depositories Act, 1996 (22 of 1996), shall be deemed to be the corresponding register and index for the purposes of this Act.
(4) A company may, if so authorised by its articles, keep in any country outside India, in such manner as may be prescribed, a part of the register referred to in sub-section (1), called "foreign register" containing the names and particulars of the members, debenture-holders, other security holders or beneficial owners residing outside India.
1[(5) If a company does not maintain a register of
members or debenture-holders or other security holders or
fails to maintain them in accordance with the provisions of
sub-section (1) or sub-section (2), the company shall be
liable to a penalty of three lakh rupees and every officer
of the company who is in default shall be liable to a
penalty of fifty thousand rupees.]
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1. Subs. by Act 29 of 2020, s. 17, for sub-section (5) (w.e.f. 21-12-2020).