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There shall be included in every balance-sheet of a company which has issued redeemable preference shares a statement specifying what part of the issued capital of the company consists of such shares and the date on or before which those shares are, or are to be, liable to be redeemed or, where no definite date is fixed for redemption, the period of notice to be given for redemption.If a company fails to comply with the provisions of this sub-section, the company and everyofficer of the company who is in default shall be liable to a fine not exceeding one thousand rupees.
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