Section Text
(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, 1 [***] 2 [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 3 [five hundred rupees].
(4) Sub-sections (1) to (3) shall not apply with respect of debentures which, ex facie, are payable to the bearer thereof:
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1. The words "distinguishing each share by its number" omitted by Act 22 of 1996, sec. 30 and Schedule (w.r.e.f. 20-9-1995).
2. Inserted by Act 8 of 1997, Section 12 (w.r.e.f. 15-1-1997).
3. Substituted by Act 53 of 2000, Section 62, for "fifty rupees" (w.e.f. 13-12-2000).