Rule 73 - Application under sections 71(9), 71(10), section 73(4) or section 74(2) and 76(2). - National Company Law Tribunal Rules, 2016

73. Application under sections 71(9), 71(10), section 73(4) or section 74(2) and 76(2) .- (1) Where a company fails to redeem the debentures or repay the deposits or any part thereof or any interest thereon, an application under sub-section (10) of section 71 or under sub-section (4) of section 73 of the Act or section 45QA of the Reserve Bank of India Act, 1934 (2 of 1934), shall be filed to the Tribunal, in Form No. NCLT. 11 in duplicate and shall be accompanied by such documents as are mentioned in Annexure B, by- (a) in case of debentures, all or any of the debenture holders concerned, or debenture trustee; or (b) in case of deposits, all or any of the depositors concerned, or where the deposits are secured, by the deposit trustee, (2) There shall be attached to the application, a list of depositors or debenture holders, as the case may be, setting forth the following details in respect of every such depositor or debenture holder:- (a) full name, age, father's/ mother's/ spouse's name, occupation and full residential address; (b) fixed deposit receipt number or debenture certificate number, as the case may be; (c) date of maturity; (d) amount due to the person by the company; (e) amount already paid by the company, if any; (f) total amount due as on the date on the application: Provided that where the company is the applicant, it shall file an affidavit stating that the list of depositors or debenture holders, as the case may be, is correct, and that the estimated values as given in the list of the amount payable to such depositors or debenture holders are proper estimates of the values of such debts and claims. (3) The Tribunal shall pass an appropriate order within a period Of sixty days from the date of receipt of application under sub-rule (1): Provided that the Tribunal shall, before making any order under this rule, give a reasonable opportunity of being heard to the company and any other person interested in the matter. (4) The Tribunal may, if it is satisfied, on the application filed under sub-rule (1), that it is necessary so to do, to safeguard the interests of the company, the debenture holders or the depositors, as the case may be, or in the public interest, direct, by order, the company to make repayment of such deposit or debenture or part thereof forthwith or within such time and subject to such conditions as may be specified in the order: Provided that while passing the order, the Tribunal shall consider the financial condition of the company, the amount or deposit or debenture or part thereof and the interest payable thereon. (5) The application under sub-section (2) of section 74 and sub-section (2) of section 76 read with section 74(2) shall be in Form NCLT-I and shall accompanied with the documents as per Annexure B. (6) A copy of application under sub-section (2) of section 76 and under subsection (2) of section 74 shall be served on the Regional Director and the Registrar of Companies before the date of hearing. (7) The Registrar of Companies in consultation with Regional Director shall submit before the Tribunal, the report on the affairs of the company within thirty days from the date of the receipt of the application and Tribunal may consider any Observation made by the Registrar of Companies before passing an order.