Section 51 : Inventory of shares, debentures and loans

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1) Every company shall prepare and maintain an inventory of the existing shareholders and debenture -holders and persons who ceased to be shareholders or debenture-holders as at thirty days prior to the holding of the……..µ annual general meeting.

2) The inventory as referred to in Sub-section (1) spell outs, inter alia, the following particulars:

(a) Authorised capital and number of shares of the company,

(b) Issued share capital of the company,

(c) Paid-up capital of the company,

(d) Calls made on every share,

(e) Total amount of instalments paid,

(f) Total amount due and recoverable,

(g) Total amount paid on share and debentures as brokerage,

(h) In the event of forfeiture of any shares, total number of such shares, reasons for forfeiture and date thereof,

(i) Loans borrowed from any bank, financial institution or any other person or guarantee furnished by the company,

(i1)Name and registration number of the company and the amount invested in the shares or debentures of such company, if it is invested in shares or debentures of other companies;

(j) Names and addresses of the existing directors.

(3) Within thirty days of the date of the annual general meeting of the company pursuant to sub-section (1), and if the company does not hold an annual general meeting, if the transaction requires the approval of the relevant body in accordance with the prevailing law, then within one year of receiving such approval and not seeking approval, at least one of the directors shall send it to the office correctly.

(4) A company which does not hold a general meeting shall be sent to the office within six months from the date of the end of the financial year in accordance with sub-section (1).

5) Notwithstanding anything contained elsewhere in this Section, if any company mentions the details as referred to in Sub-section(1), as well, in the report required to be submitted pursuant to Section 78, such company shall not be required to send a separate inventory to this Office under this Section.

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