C. B. BHARGAVA, J.

( 1 ) THIS is an application in revision by Mahalaxmi Mills Company Limited. Beawar, its four Directors viz. , Pannalal Kothari, Navratanmal Kothari, Kastur Chand Mehta, amarchand Kothari and Deo Dutt Takiar. Secretary against the order of the City magistrate, Jaipur dated 27th August, 1966, by which they with the exception of amarchand, were sentenced to a fine of Rs. 200 each for their default in giving notice of increase in share capital to the Registrar as required under Section 97 (1)and (2) of the Companies Act (hereinafter called the Act) and which is punishable under Clause (3) of the said section.

( 2 ) THE Company was registered under the Indian Companies Act VII of 1913 with the authorised capital of Rs. 25,00,000 divided into 25,000 shares of 100 each. According to the Articles of Association of the Company, its capital could be increased in accordance with the regulations of the Company and the Legislative provisions for the time being in force in this behalf and the increased capital must be divided into shares of Rupees hundred or less or more as the Board of Directors, may deem fit. On 31st October. 1960, the Company passed t Special res