F. No. 10/36/2001-CLB
GOVERNMENT OF INDIA
Company Law Board
Ministry of Corporate Affairs

Paryavaran Bhawan, 3rd Floor,
B-Wing. Lodhi Road,
New Delhi 110003.

Dated 28th January, 2015

ORDER

In exercise of the powers conferred by sub-section (6) of section 10E of the Companies Act, 1956 (I of 1956), the Company Law Board hereby makes the following regulations further to amend the Company Law Board Regulation 1991, namely:-

I. In Chapter II of the Company Law Board Regulations. 1991, (hereinafter referred to as the said regulations):-

a) In Regulation 4, for Sub- Regulation (3), the following sub-regulation shall he substituted namely:-

“It shall be lawful for the Chairman to provide that matters falling under all other sections of the Companies Act 1956 and the Companies Act, 2013, except those mentioned in Sub-Regulation (1) shall be dealt with by the Regional Benches, namely. New Delhi Bench. Chennai Bench, Kolkata Bench and Mumbai Bench consisting of one or more Members”.

b) In Sub Regulation (5) of Regulation 14, for the words and expression “sub section (9) of Section 58A or sub- section (4) of section 117 C of the Act or under sub -section (2) of section 45QA of the Reserve Bank of India Act, 1934 ( 2 of 1934) ” the words and expression namely “sub –section (4) of section 73 of the Companies Act, 2013 or sub -section (4) of section 73 read with section 76 of the Companies Act, 2013 or sub- section (4) of section 117 C of the Companies Act, 1956 or under sub -section (2) of section 45QA of the Reserve Bank of India Act, 1934 (2 of 1934)” shall be substituted.

II. In Chapter III of the Company Law Board Regulation 1991.

a) For Regulation 37 the following Regulation shall be substituted namely:-

“Application by depositor and debenture holder – An application under sub- section (4) of section 73 of the Companies Act. 2013 or sub- section (4) of section 73 read with section 76 of the Companies Act, 2013 or under sub-section (4) of section 117C of the Companies Act. 1956 or under section 45QA of the Reserve Bank of India Act. 1934 (2 of 1934). Shall be filed in Form No, 4 in Annexure – II and shall be submitted in duplicate.”

III. In Chapter IV of the Company Law Board Regulation. 1991.

a) After Regulation 51 the following regulation 52 and Regulation 53 shall be inserted namely:-

“52. Application Petition to the Company Law Board. – An application under sub-section (41) of section 2 of the Companies Act 2013 shall be filed in Form No. 6 in Annexure II. A Petition under section 58 and or 59 of Companies Act 2013 shall be filed in Form No.1 in Annexure II. An application under sub-section (4) of section 73 or subsection (4) of section 73 read with section 76 of the Companies Act, 2013 shall he filed in Form No. 4 in Annexure-II. An application under sub–section (2) of section 74 of the Companies Act 2013 shall he filed in Form No. 7 in Annexure II.

“53. Before submitting an application under sub- section (2) of section 74 of the Companies Act. 2013, the company shall publish a general notice in two leading English daily newspapers and in a newspaper published in the language of the region having wide circulation in the region in which the Registered office of the company is situated in the manner specified in Form No. 8 in Annexure II. The company shall also serve a copy of the general notice in Form No. 8 to every deposit holder whose deposits are covered under the application seeking extension of time by speed post und shall produce evidence of such service at the lime or presentation of such application in CLB”

b) In ANNEXCKL-II. FORMS in FORM No. 4 for the expression “APPLICATION BY DEPOSITOR/DEBENTURE HOLDER UNDER SECTION 58A(9) OR SEC 117C(4) OF THE ACT OR SECTION 45Q V OF THE RESERVE BANK OF INDIA ACT, 1934 (delete whichever is not applicable),

BEFORE THE COMPANY LAW BOARD (………………………………….BENCH)

IN THE MATTER OF THE COMPANIES ACT, 1956 (1 of 1956), (SECTION 58A OF THE ACT OR SECTION 45QA OF THE RESERVE BANK OF INDIA ACT, 1934), the following expression shall be substituted, namely:-

“APPLICATION BY DEPOSITOR/DEBENTURE HOLDER UNDER SECTION 73 (4) OR SECTION 73 (4) READ WITH SECTION 76 OF THE COMPANIES ACT. 2OI3 OR SECTION 117C (4) OF THE ACT, 1956 OR SECTION 45QA OF THE RESERVE BANK OF INDIA, ACT, 1934 (delete whichever is not applicable)

BEFORE THE COMPANY LAW BOARD (BENCH)

IN THE MATTER OF THE COMPANIES ACT, 1956 (1 of 1956), OR 2013, (SECTION 73 (4) OR SECTION 73 (4) READ WITH SECTION 76 OF THE COMPANIES ACT. 2013 OR SECTION 117C (4) OF THE ACT, 1956 OR SECTION 45QA OF THE RESERVE BANK OF INDIA, ACT, 1934

c) Annexure-II, in Note 1 of FORM No, 4 for the expression “Rupees Fifty the expression “Rupees One hundred” shall he substituted

d) In Annexure II, after FORM No. 5 the following FORM No. 6, FORM No. 7 and FORM No. 8 shall he inserted namely:-

FORM NO. 6

(See Reputation 52)

BEFORE THE COMPANY LAW BOARD, . . . . . .

REGIONAL BENCH, NEW DELHI/KOLKATA/MUMBAI/CHENNAI

FORM NO. 7

(See Reputation 52)

APPLICATION UNDER SECTION 74(2) OF THE COMPANIES ACT, 2013

FORM NO. 8

(See Reputation 52)

APPLICATION UNDER SECTION 74(2) OF THE COMPANIES ACT, 2013

(e) In ANNEXURE III for the expression “[See Regulations 18 and 34]” the expression “[See Regulations 18, 34, 52 and 53]” shall be substituted.

(f) In ANNEXURE III after Sl. No. 33 the following Sl. No. shall be added:

Sl. No. Section of the Act Nature of Petition Enclosures to Petition
34 2(41) of the companies Act, 2013 Application for a different Financial Year 1.   Proof of intimation to concerned Registrar of Companies (sec Reg. 14(3))

2.   Board resolution passed by petitioner company

3.   Certified copy of Latest Balance Sheet of Holding/Subsidiary Company incorporated outside India, with whom petitioner company is aligning its financial year. Duly certified by Notary Public of such Country.

4.   Board Resolution or Consent on the Letter Head of the Holding/Subsidiary Company incorporated outside India duly Notarized and apostillised if such Country is a signatory to the Hague Apostille Convention.

5.   Memorandum of Appearance as per Annexure II (Form 5)/Vakalatnama

6.   Affidavit Verifying the Petititon (see Regulation 14(5))

7.   Demand Draft of Rs. 5000 in favour of Pay and Accounts Officer, Ministry of Corporate Affairs, payable at New Delhi/Kolkata/Mumhai/Chennai as the case may be.

8.   Any other document can be enclosed optionally.

35. 74(2) of the Companies Act, 2013 Application for extension of time to repay the deposits. 1.     Board resolution passed by company for filing of the application.

2.     Latest Return of Deposit filed with Registrar of Companies.

3.     Latest Statement of Deposits filed with Registrar of Companies under section 74(1) (a) of the Act, 2013.

4.     Certified copies of the last three financial years Balance Sheets immediately preceding the year of application.

5.     Copies of Advertisements inviting deposits.

6.     Memorandum of Appearance as per Annexure II (Form 5)/Vakalatnama

7.     Affidavit Verifying the Petition (see Regulation 14(5).

8.     Original cuttings of general notice published in the newspapers.

9.     Evidence of service of general notice to the deposit holders.

10.   Demand Draft of Rs. 5000 in favour of ‘Pay and Accounts Officer, Ministry of Corporate Affairs, payable at New De1hi/Kolkata/Mumbai/Chennai as the case may be.”

11.   Any other document can be enclosed optionally.

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