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Section 501 – The Companies Act,1956

The Companies Act, 1956

501. Notice of resolutions passed by creditors’ meeting to be given to Registrar.

(1) Notice of any resolution passed at a creditors’ meeting in pursuance of section 500 shall be given by the company to the Registrar within ten days of the passing thereof.

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

For the purposes of this section, a liquidator of the company shall be deemed to be an officer of the company.

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1. Subs. by Act 53 of 2000, sec. 200, for “fifty rupees” (w.e.f. 13-12-2000).

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The Companies Act, 1956

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