Delegation of powers to SEBI - Companies Law - Circular : No. 4 of 1994,

Circular : No. 4 of 1994, dated 2-3-1994. Delegation of powers to SEBI - Authorisation under sections 56(3), 59(1), 63, 68, 73(2)/(2B), 113(2) and 207 of the Companies Act, 1956, to an officer of SEBI under section 621 of the Companies Act, 1956 I am directed to enclose a copy of Notification No. GSR 97(E), dated 15-2-1994 whereby the Central Government has authorised Shri Pratip Kar, an Officer of SEBI to file complaints under the aforesaid provisions of sections 63 and 68 of the Act and to say that SEBI has separately been requested to furnish details of the complaints filed to the concerned Registrars of Companies and this Department. Since SEBI will be exercising powers in respect of offences under these sections concurrently, it may be ensured by ROCs that there is no duplication of action in case of similar complaints. 2. SEBI has also been requested to forward the application made for compounding the offence under section 621A of the Act to the concerned Registrars and on receipt of such application, appropriate action under the extent provisions of law will be taken by the concerned Registrars. 3. It may be noted that as per Notification No. GSR 716(E), dated 24-11-1993, forwarded vide this Department s Circular of even number dated 2-12-1993, the Officer of SEBI has already been delegated the powers to file complaints under sections 56(3), 59(1), 73(2)/(2B), 113 and 207 of the Act.