PUBLISHED IN THE GAZETTE OF INDIA EXTRA ORDINARY

PART II, SECTION 3, SUB-SECTION (i)

GOVERNMENT OF INDIA

Company Law Board

Notification

       New Delhi , the   15th June 2001

            G.S.R.437(E)  .--    In exercise of the powers conferred by sub – sections (4B) and (6) of section  10E of the Companies Act, 1956  (1 of 1956), the Company Law Board hereby makes the following Regulations further to amend the Company Law Board Regulations,1991, namely : -

1.         ( 1 )      These regulations may be called as the Company Law Board (Amendment) Regulations, 2001.

 

            ( 2 )      They shall come into force on the date of their publication in the Official Gazette.

2.         In the Company Law Board Regulations, 1991,--

(a)    in regulation 14, in sub-regulation (5), after the word, figures and letter “section 58A”, the words, figures, letter and brackets “or sub-section (4) of section 117C”shall be inserted;

(b)   in regulation 37 ,-

(i)      in the marginal heading after the word  “deposit”, the words “and debenture” shall be inserted;

                          

(ii)  after the  word, figures and letter “ section 58A”, the words, brackets, figures and letter “ or under sub-section (4) of section 117 C” shall be inserted;

 

(c)    after regulation 42, the following regulation shall be inserted, namely.-

42A. Intimation or petition under section 58AA or 117B. -    An intimation under sub-section (1) of section 58AA or a petition under sub-section (4) of section 117B of the Act, shall be filed in Form No. 1 in Annexure II.”

 

3.         In the Company Law Board Regulations, 1991,--

(i)                  in ANNEXURE – II,

(a)    in FORM No.1, for the brackets , words and figures “( See Regulations 13 and 14 )”, the  brackets , words and figures “ ( See Regulations 13,14 and 42A)” shall be substituted.

 (b)       in Form No.4 ,-

(i)                  after the word “Depositor”, wherever it occurs, the words “/ Debenture  Holder” shall be inserted;

  (ii)     after the word, figures, letter and brackets“ SECTION 58A(9)”, the words, figures, letter and brackets “OR SECTION 117 C (4)” shall be inserted;

   (iii)    after the word, figures and letter “ SECTION 58A”, the words, figures, letter and brackets   “OR SECTION 117 C (4)” shall be inserted;

(ii)                after the expression “Depositors(s)”, appearing in serial number (iii), the expression“/Debenture Holder(s)” shall be inserted;

(v)       after the word “Deposit”, wherever it occurs, the word “/ Debenture” shall be inserted;

(vi)       after the expression “Deposit(s)”, appearing in serial number (i) of the prayer, the expression “/Debenture(s)” shall be inserted;

                   

            (ii)  in ANNEXURE-III, -

(a)   against serial number 6 ,-

(i)                  in column (2), after the figures, letter and brackets “58A(9)” ,  the word, figures and letter “or 117C” shall  be inserted;

(ii)        for the entries in column (3) ,the following shall  be substituted, namely:--

“ Application  to direct the company to make repayment of      the matured   deposits or debentures”;

(b)   after the serial number 6 and the entries thereto, the following serial

  number and entries shall be inserted, namely:--

 

 “6A

58AA

Petition to intimate the default in making repayment of the matured deposits from small depositors and interest thereon

1.Names and addresses of the officers of 

   the company.

2.Full details of small depositors such as

   names, addresses, amount of deposits,

   rate of interest, dates of maturity and

   other terms and conditions of deposits.

3.Resons for non payment or late payment.

4. Annual Reports for the last three years.

5. Projection and cash flow statement for

    the next three financial years duly

    certified by Statutory Auditors of the

    company.”;

 

(c) after the serial number11 and the entries thereto the following serial number

     and the entries  shall be inserted, namely:--

 

“11A

117B(4)

Petition to intimate the default in making repayment of the matured debentures and interest thereon

1.Names and addresses of the officers of 

   the company.

2.Full details of debenture holders such as

   names, addresses, amounts, rate of

   interest, dates of maturity and other terms

   and condition of the debentures.

3.Reasons for non-payment or late payment.

4. Annual Reports for the last three years.

5.Copy of the Prospectus issued at the time of issue of debentures.

6. Copy of the Trust Deed.”.

 

 

 

[F.No. 1(10) 88 –CL.V/CLB]

By Order of the Company Law Board

 

 

 

                                                                                          (H.S.SHARMA)

                                                                                          Secretary (CLB)

 

 

 

Foot Note: - Principal Regulation was amended vide G.S.R. No. 29(E) dated 31-05-1991

     and subsequently amended by:--

(1)   G.S.R. No. 492 (E) dated 14-05-1992;

(2)   G.S.R. No. 593 (E) dated 25-07-1994;

(3)   G.S.R. No. 394 (E) dated 02-05-1995;

(4)   G.S.R. No. 433 (E) dated 01-08-1997;

(5)   G.S.R. No. 917 (E) dated 14-12-2000.