(1) Every alteration made
in the memorandum or articles of a company shall be noted in every copy of the memorandum or articles,
as the case may be.
(2) If a company makes any default in complying with the provisions of sub-section (1), the company
and every officer who is in default shall be liable to a penalty of one thousand rupees for every copy of
the memorandum or articles issued without such alteration.