Government of India
Company Law Board
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Question |
What is the procedure of filing an application for
non-payment of matured deposits by a company (NBFC & non-NB FC)
before the Company Law Board? | |||||
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Answer |
(a) |
Form No. 4 prescribed under the Company Law Board
Regulations, 1991 is to be filed in duplicate alongwith photocopy of Fixed
Deposit Receipt issued by the company with the Company Law Board Benches
at New Delhi/Mumbai / Chenna/Kolkata.. | ||||
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(b) |
A demand draft of Rs. 50/- duly drawn in favour of
“The Pay & Accounts Officer, Department of Company Affairs” payable at
New Delhi/Mumbai / Kolkata / Chennai as the case may be attached with the
above said form No. 4. | ||||
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(c) |
Separate Form No. 4 along with demand draft of Rs.
50/- is to be filed by each depositors. | ||||
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(d) |
If a depositor have more than one deposit in
his/her name in one company only one form No. 4 is
required. | ||||
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(e) |
Jurisdiction of Bench is according to the
situation of the registered office of the company and cases will be
entertained by Regional Bench in respect of company whose registered
office is situated within that region as indicated
below:- | ||||
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S.No. |
Region |
States/Union
Territories |
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1. |
Eastern Region, Company Law Board, 9, Old Post
Office Street, Kolkatta. |
States of Arunachal Pradesh, Assam, Bihar,
Manipur, Meghalaya, Nagaland, Orissa, Sikkim, Tripura, West Bengal and
Union Territories of Andaman and Nicobar Island and
Mizoram. |
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2. |
Northern Region, Company Law Board, 5th
Floor, ‘A’ Wing,Shastri Bhavan, Dr. Rajendera Prasad Road, New
Delhi-110001 |
States of Haryana, Himachal Pradesh, Jammu &
Kashmir, Punjab, Rajasthan, Uttar Pradesh and Union Territories of Delhi
and Chandigarh. |
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3. |
Southern Region/Addl. Principal Bench Company Law
Board, Shastri Bhawan, Block-1, 26, Haddows Road,
Cheenai. |
States of Andhra Pradesh, Karnataka, Kerala, Tamil
Nadu and Union Territories of Pondecherry and Lakshadweep
Island. |
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4. |
Western Region. Company Law Board, NTC House,
N.M. Marg Ballard Estate, Mumbai
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States of Goa, Gujrat, Madhya Pradesh, Maharashtra
and [Union Territories of Dadra and Nagar Haveli and Damman and
Diu] |
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Question |
What action is required if company do not make
payment in compliance of CLB’s order? | |||||
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Answer |
(a) |
In case of non compliance of CLB Orders by
NBFC a complaint is to be lodged by the Depositors with the office of RBI
in the State where the registered office of the company is situated.
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(b) |
In case of non compliance of CLB Orders by other
companies complaints are to be lodged with the ROC of a State in which the
registered office of the company is
situated. | ||||
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Question
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What is the procedure/ requirement for filing a
petition/ application u/s 397/398 of the Companies Act, 1956
? | ||||
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The requirement of filing a petition/application
u/s 397/398 of Companies Act, 1956are as
under:- 1.
The petitioners must satisfy the
requirement of section 399 of the Companies Act, 1956 i.e. for a company
Ltd. by shares the petitioners must constituted either 100 members or
one-tenth of the total number of the members of the company whichever is
less or the petitioners must hold one-tenth of the issued share capital of
the company and in the case of a company not having a share capital the
petitioners must constitute one-fifth of the total number of its members.
2.
in case where the number of the persons
required to satisfy 1. above and to be made petitioners is large, any one
or more of them having obtained the consent in writing of the rest may
make the petition/application on behalf and for the benefit of all of
them. 3.
in case the members complaining do not
satisfy 1 above they may apply to the Central Government who may, if in
its opinion circumstance exist which make it just and equitable to do so,
authorize the members of the company to apply to the Company Law Board u/s
397/398 notwithstanding that the requirement of 1. above are not
fulfilled. 4.
the petition/application has to be drawn
on substantial paper of full scape as required under regulation 11 and 16
of the Company Law Board Regulation 1991. 5.
the petition has to be drawn in form
No.1. as prescribed under Company Law Board Regulation
1991. 6.
Requisite fee towards a petition
i.e. Rs. 5,000/- , and Rs. 50/- towards application by way of demand
draft drawn in favour of “Pay & Account Officer, Department of Company
Affairs, New Delhi/ Chennai” has to be
remitted. 7.
Petition/ Application has to be
accompanied by affidavits verifying the petition/\application from all the
petitioners drawn on non-judicial stamp paper of requisite value duly
attested by Notary public/ Oath Commissioner in accordance with
regulation 14(8) & (9) of the Company Law Board Regulation
1991. 8.
The petition/application has to be
served on the concerned Registrar of Companies and Regional Director,
Department of Company Affairs and on all the
respondents. 9.
The petition/application alongwith
annexures duly page numbered with proper index are required to be properly
bound in a paper book. | ||||