Company Law Board (Amendment) Regulations, 2001 -Amendments in Regulations 14, 37 & 42 and Annex. - G.S.R. 437(E) - Companies Law

NOTIFICATION NO. GSR 437(E), DATED 15-6-2001, ISSUED BY THE COMPANY LAW BOARD Subject:- Company Law Board (Amendment) Regulations, 2001 -Amendments in Regulations 14, 37 42 and Annex 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 117C" 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 117C(4)" shall be inserted; ( iii ) after the word, figures and letter "SECTION 58A", the words, figures, letter and brackets "OR SECTION 117C(4)" shall be inserted; ( iv ) after the expression "Depositor(s)", appearing in serial number ( iii ) , the expression's/"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. Reasons 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 number 11 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 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."