Regarding provision of book closure in corporate law

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C.A. LINESH PATIL (Querist)
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11 September 2010 can any1 tell me the answer of following question-

1)is book closure for all company mandatory.

2)what are the provision for in company law and at what time a company can close its register of member.

please let me know these queries answered soon...

Thanks in advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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11 September 2010 1)Book closure under section 154 of the companies act, 1956 is not mandatory at all for unlisted public company.

2) If the company decides for book closure, then they have to follow the procedure mentioned by Section 154. When the shares are listed,the company shall be required to comply with the listing agreement also.

C.A. LINESH PATIL

C.A. LINESH PATIL (Querist)
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11 September 2010 plz let me no the date when a comapany can do book closure.n is this applicable for pvt company.

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Jagruti (CS)

Jagruti (CS) (Expert)
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13 September 2010 As per the transaction company can do book closure. In case private Company is declaring dividend or issue Bonus Shares than it can go for Book Closure.

but instead of Book Closure go for declaring record date.

record Date is the date on which the shareholders will be recognised for such dividend payment or bonus issue.

There is no provisionin Companies Act, for declaring book closure or record date