The Ministry of Corporate Affairs has issued following clarification on applicability of provisions of Section 108A to 108 I of the Companies Act, 1956:
“Sections 108A to 108 I of the Companies Act, 1956 were inserted in the Companies Act, 1956 through Monopolies and Restrictive Trade Practices (Amendment) Act, 1991. Section 108G (applicability of sections 108A to 108F) and Section 108H (construction of certain expressions used in Sections 108A to 108G) of the Companies Act, 1956 refer to the applicability of provisions of Sections 108A to 108F in reference to various requirements under the MRTP Act, 1969.
As MRTP Act, 1969 stands repealed, the legal validity of these provisions i.e. sections 108A to 108H of Companies Act, 1956 has been examined in the Ministry in consultation with the Ministry of Law & Justice and it has been observed that after the repeal of MRTP Act, 1969, the provisions of Section 108A to 108 I the Companies Act, 1956 have become redundant and will have no legal force”.
Please find below the Circular 30/2011
Circular 30/2011
F. No 05/13/2006– IGC
Government of India
Ministry of Corporate Affairs
5th floor, ‘A’ Wing, Shastri Bhawan,
Dr. Rajendra Prasad Road, New Delhi
Dated: 23.05.2011
To
All the Regional Directors,
All the Registrar of Companies/ Official Liquidators
Subject: – Clarification on applicability of provisions of Section 108A to 1081 of the Companies Act, 1956 – regarding.
Sections 108A to 1081 of the Companies Act, 1956 were inserted in the Companies Act, 1956 through Monopolies and Restrictive Trade Practices (Amendment) Act, 1991. Section 108G (applicability of sections 108A to 108F) and Section 108H (construction of certain expressions used in sections 108A to 108G) of Companies Act, 1956 refer to applicability of provisions of sections 108A to 108F in reference to various requirements under the MRTP Act, 1969. As MRTP Act, 1969 stands repealed, the legal validity of these provisions i.e sections 108A to 108H of Companies Act, 1956 has been examined in this Ministry in consultation with Ministry of Law & Justice and it has been observed that after repeal of the MRTP Act, 1969, the provisions of Section 108A to 1081 of the Companies Act, 1956 have become redundant and will have no legal force.
2. This issues with the approval of Competent Authority.
Seema Rath
Assistant Director
Tel. 011 23387263
