Section 110, The Companies Act, 2009

(1) Whenever a company limited by shares makes anyallotment of its shares, the company shall, within one month thereafter deliver to the Commission for registration– (a) a return of the allotments stating the number of nominal amount of the shares comprised in the allotment, the names, addresses and description of the allottees, and the amount, if any, paid or due and payable on each share; (b) in the case of shares allotted as fully or partly paid up otherwise than in cash– (i) a contract in writing consisting of the title of the allottee to the allotment together with any contract of sale, or for services or other consideration in respect of which that allotment was made, such contracts being duly stamped; (ii) a return stating the number and nominal amount of shares so allotted, the extent to which they are to be treated as paid up, and the consideration for which they have been allotted; and (iii) particulars of the valuation of the consideration in accordance with 114. , if any. (2) If default is made in complying with this section, every officer of the company who is in default shall be guilty of an offence and be liable to a fine of Le500,000 for each day during which the default continues; but in case of default in delivering to the Return as to allotments. irregular allotment. allotment in certain cases of prospectus delivered to 76 77 Commission within one month after the allotment any document required to be delivered by this section, the company or any officer liable for the default, may apply to the court for relief, and the court, if satisfied that the omission to deliver the document was accidental or due to inadvertence or that it is just and equitable to grant relief, may make any order extending the time for the delivery of the document for such period as the court may think proper.