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Requirement of Newspaper Advertisement for Book Closure
Requirement of Newspaper Advertisement for Book Closure under the Companies Act, 1956
The provisions as prescribed in the Companies Act, 1956 (section 154) requires the companies, be it public or private, to give not less than seven days' previous notice by advertisement in some newspaper circulating in the district in which the registered office of the company is situated, for closure of Register of Members or Debenture Holders for any period or periods not exceeding in the aggregate 45 days in each year, but not exceeding 30 days at any one time.
Requirement of Newspaper Advertisement for Book Closure under the Companies Act, 2013 and rules thereunder
Applicable provisions : Section 91 of the companies act 2013 & Rule 10 of the Companies (Management and Administration) Rules, 2014.
As per Rule 10 of the Companies (Management and Administration) Rules, 2014,
a company closing the register of members or the register of debenture holders or the register of other security holders has to at least 7 days previous notice (in case of listed company or a company which intends to be listed - the company has to comply provisions as may be specified by SEBI);
at least once in a vernacular newspaper in the principal vernacular language of the district and having a wide circulation in the place where the registered office of the company is situated, and
at least once in English language in an English newspaper circulating in that district and having wide circulation in the place where the registered office of the company is situated; and
publish the notice on the website as may be notified by the Central Government and on the website, if any, of the Company.
Above provisions shall not be applicable to a private company if the notice has been served on all members not less than 7 days prior to closure of the register of members or debenture holders or other security holders.