Company Law Board (Amendment) Regulations, 2008 - Amendments in regulations 7, 34, Annexure-I and Annexure-II; substitution of regulation 4 - GSR 185(E). - Companies Law

Company Law Board Notification No. GSR 185(E) dated 17-3-2008, Subject:- Company Law Board (Amendment) Regulations, 2008 - Amendments in regulations 7, 34, Annexure-I and Annexure-II; substitution of regulation 4 GSR 185(E).- In exercise of the powers conferred by sub-section (4B) and sub-section (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 the Company Law Board (Amendment) Regulations, 2008. (2) They shall come into force on the 1st day of April, 2008. 2. In the Company Law Board Regulations, 1991. (a) for regulation 4, the following shall be substituted, namely: 4. Power of the Chairman to specify matters which may be dealt with by a Bench. (1) It shall be lawful for the Chairman to provide that matters falling under sections 247,250,269 and 388B of the Act and under section 2A of the Monopolies and Restrictive Trade Practices Act, 1969 (54 of 1969) shall be dealt with by the Principal Bench consisting of one or more Members. (2) The Principal Bench shall be at New Delhi but it may sit at any other place in India at its discretion or at the joint request of all the parties. (3) It shall be lawful for the Chairman to provide that matters falling under all other sections of the Act shall be dealt with by Regional Benches, namely, New Delhi Bench, Chennai Bench, Kolkata Bench and Mumbai Bench, consisting of one or more Members: Provided that matters pending before the Principal Bench and Additional Principal Bench as on 1st day of April, 2008 shall continue to be disposed of in the name of Principal Bench and Additional Principal Bench respectively: Provided further that notwithstanding anything contained in regulation 7, it shall be lawful for the Chairman to transfer any matter pending before the Regional Benches to the Principal Bench either at the joint request of all the parties or for other reasons to be recorded in writing. (b) in regulation 7 (i) for sub-regulation (2), the following shall be substituted, namely : The States or Union-territories falling under the geographical jurisdiction of the Regional Benches shall be as provided in Annexure-I; (ii) for sub-regulation (3), the following shall be substituted, namely : The Regional Benches shall ordinarily have their sittings at Kolkata, Mumbai, Chennai and New Delhi: Provided that the Benches may, at their discretion, hold sittings in any other city or town falling within their respective geographical jurisdiction or any other place outside their jurisdiction with the consent of the parties ; (c) in regulation 34, for sub-regulation (3), the following shall be substituted, namely : (3) In respect of a petition or application filed before the Principal Bench or other Regional Benches, fees payable under these regulations shall be paid by means of a bank draft or bankers cheque drawn in favour of Pay and Accounts Officer, Ministry of Corporate Affairs, New Delhi or Kolkata or Mumbai or Chennai, as the case may be. (d) in Annexure-I, (i) in serial number 1, for the words Eastern Region , the words Kolkata Bench , shall be substituted; (ii) in serial number 2, for the words Northern Region , the words New Delhi Bench shall be substituted; (iii) in serial number 3, for the words Southern Region (Additional Principal Bench) the words Chennai Bench shall be substituted; (iv) in serial number 4, for the words Western Region , the words Mumbai Bench shall be substituted: (e) In Annexure-II, (i) In Form No. 1, the words Additional Principal Bench shall be omitted; (ii) In Form No. 3, the words Additional Principal Bench shall be omitted; (iii) In Form No. 4, for the existing Note 1, the following shall be substituted, namely : Note 1. The application shall be accompanied by a fee of rupees fifty only by way of bank draft or bankers cheque in favour of the Pay and Accounts Officer, Ministry of Corporate Affairs, New Delhi or Mumbai or Kolkata or Chennai as the case may be .