COMPANY LAW BOARD REGULATIONS, 1991 - AMENDMENT IN REGULATIONS 2, 4, 14, 15, 18 & FORM NO.1 & ANNEXURE III
ORDER [FILE NO.10/36/2001-CLB], DATED 25-9-2013
In
exercise of the powers conferred by sub-section (4B) and sub-section
(6) of section 10(E) of the Companies Act, 1956 (1 of 1956) read with
Regulation 4 of the Company Law Board Regulations, 1991 and Ministry of
Corporate Affairs, companies (removal of Difficulties) order, 2013 dated
20.09.2013 notified under sub-section (1) of section 470 of the
Companies Act, 2013, the Board, hereby, makes the
following Regulations
further to amend the Company Law Board Regulations 1991, namely:—
1. In CHAPTER I of the Company Law Board Regulations, 1991, (hereinafter referred to as the said regulations),—
| (a) | | In
Definitions, in definition 2(1)(a), for the expression "Act" means the
Companies Act, 1956 (1 of 1956), the following expressions shall be
substituted namely:— |
| | "Act" means the Companies Act, 1956 (1 of 1956) and Companies Act, 2013 (18 of 2013) as applicable." |
2. In CHAPTER II of the said Regulations,
| (a) | | In Regulation 4, for sub-regulation (3), the following sub-regulation shall be substituted namely:— |
| | "It
shall be lawful for the Chairman to provide that matters falling under
sections 43, 49, 58A, 58AA, 79, 80A, 111 and/or 111A (petitions received
and registered in CLB upto 11.09.2013), 113, 117, 117C, 118, 144, 163,
167, 186, 196, 219, 225, 235, 237B, 247, 284, 304, 307, 614, 621A and
all matters arising under Chapter VI (prevention of oppression and
mismanagement) of the Companies Act, 1956, section 45QA of the R.B.I.
Act, 1934 and sections 24, 58 and 59 (petitions received and registered
in CLB on or after 12.09.2013) of the Companies Act, 2013 shall be dealt
by Regional Benches, namely, New Delhi Bench, Chennai Bench, Kolkata
Bench and Mumbai Bench, consisting of one or more Members." |
| (b) | | In Regulation 14 of the said regulations, |
| (i) | | for sub-regulation (2), the following sub-regulation shall be substituted namely:— |
| | "The
petitioner/applicant shall serve an advance notice with a copy of the
petition, reference or application on the respondent(s) and shall
produce evidence of such service at the time of presentation of such
petition, reference or application in CLB." |
| (ii) | | for sub-regulation (3), the following sub-regulation shall be substituted namely:— |
| | "The
Petitioner shall serve a copy of the reference or petition other than a
petition under sections 49, 79, 80 A, 111 and/or 111 A (petitions
received and registered in CLB upto 11.09.2013), 113,118, 144,
163,188,196, 219, 225, 284, 304 and 307 of the Companies Act, 1956 and
under sections 58 and 59 (petitions received and registered in CLB on or
after 12.09.2013) of the Companies Act, 2013, upon the concerned
Registrar of Companies having jurisdiction over the company and shall
attach to and present with his petition, reference, an acknowledgement
from the office of the Registrar of Companies receiving a copy of the
petition or reference so served." |
| (c) | | In Regulation 15 of the said regulations, |
| (i) | | for sub-regulation (2), the following sub-regulation shall be substituted namely:— |
| | "Every
petition or application shall be presented in CLB after giving two
clear working days advance notice for mentioning (excluding the date of
such presentation) and accompanied by evidence of such advance notice
having been served on the respondent(s). If, on scrutiny, the petition
or application is found to be in order, it shall be duly registered and
given a serial number." |
| (ii) | | after sub-regulation (2), the following proviso shall be inserted namely:— |
| | "Provided that in an exceptional situation of urgency, the above notice period may be dispensed with by the order of the Bench." |
| (d) | | In Regulation 18 of the said regulations, |
| (i) | | for sub-regulation (1), the following sub-regulation shall be substituted namely:— |
| | "A
petition shall be accompanied by documents as prescribed in Annexure
III and shall be accompanied by an index of documents, brief of synopsis
within two pages and date of events within two pages." |
3. In CHAPTER IV of the said Regulations,
| (a) | | In
Annexure II, in Form No. 1, for the expression in the matter of
Companies Act, 1956, the following expression shall be substituted
namely:— |
| | "In the matter of Companies Act, 1956/ The Companies Act, 2013" |
| (b) | | In
Annexure III of the said Regulations, against serial number 9, for the
expressions 111 [or 111A], the following expression shall be substituted
namely:— |
| | "111 [or 111A] of the Companies Act, 1956 and 58 [or 59] of the Companies Act, 2013." |
4. This order shall come into force with immediate effect.
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