Urgent- company law

Sec 154 of the Companies Act 1956 lays down provisions in this regard.Kindly verify.

The main purpose for which Register of Members is closed is to ascertain the names of the Member for payment of final and interim Dividend

payment of interest,

issue of Shares and Debentures,

issue of Bonus etc.

For this notice must be given in atleast one newspaper atleast 7 days before the closing of Register.

The Register of members must be closed for more than 30 days at any one time and not more than 45 days in one year.

The main purpose for which Register of Members is closed is to ascertain the names of the Member for payment of final and interim Dividend

payment of interest,

issue of Shares and Debentures,

issue of Bonus etc.

For this notice must be given in atleast one newspaper atleast 7 days before the closing of Register.

The Register of members must be closed for more than 30 days at any one time and not more than 45 days in one year.

Charu Ma'am...

would like to rectify ur reply.....

The Register of members must "NOT" be closed for more than 30 days at any one time and not more than 45 days in one year.

Thanks Rakesh for correction..

Under section 154, a Company may, after giving not less than 7 days advance notice by advertisement in some newspaper circulatingin the district in which the registered office of the Company is situated, close the register of members for any period or periods not exceeding in the aggregate 45  in each year, but not exceeding 30 days at any one time.

Under Listing Agreement Clause 16: 

The Company agrees to close its Transfer Books least once a year at the time of the Annual General Meeting if they have not been otherwise closed at any time during the year and to give to the Exchange the notice in advance of at least seven working days or of as many days as the Exchange may from time to time  reasonably prescribe, stating the dates of  closure  of its Transfer Books (or, when the Transfer Books are not to be closed, the  date  fixed  for  taking  a  record   of   its shareholders or debenture holders) and specifying the purpose or purposes for which the Transfer Books are to be closed (or the record is to be taken) and to send copies of such notices to the other recognised stock exchanges in India.

The company further agrees that the minimum time gap between the two book closures and/or record dates would be atleast 30 days.

Procedure to close the Register of Members:

Hold Board Meeting and decide the period of Book Closure.

Issue notice in paper atleast 7 days before the date of Book Closure.

In case of listed Company, send atleast 7 days advance notice to the Stock Exchange also mention the purpose of Book Closure.

Ensure atleast 30 days time gap between 2 book Closure.