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1.
Introduction:
The avowed object of this article is to present the true
picture of serious ramifications that the amended Schedule
X of the Companies Act, 1956 has on the companies, either
newly registered or existing ones enhancing the authorised
capital, in both the cases, on or after 01.05.2000.
Not only that the fees have been increased drastically, but
the same is done without any prior notice to the public at
large. The companies
were caught unaware when they were informed by the offices of
Registrar of Companies (“ROC”) on 01.05.2000 that the fees
were hiked with immediate effect. Surprisingly, the staff
at offices of ROC also expressed unawareness of said hike till
the previous day.
It is rightly said that the numerals
speak much more than the words. That is why, it is deemed
fit to explain the implications of said amendment to Schedule
X with the help of two charts.
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