9911796707
TMI BlogOrder of the Company Law Board under Section 141 of the Companies Act, 1956 regarding extension of time for filing documents by companies and levy of additional fee.X X X X Extracts X X X X X X X X Extracts X X X X ..... ovides for registration of a charge within a period of 30 days after the date of its creation. The Registrar has been authorised to permit the filing of such documents within 30 days next immediately following the expiry of the initial period of 30 days on payment of additional fee in terms of Section 611(2). The same provisions are applicable to the modification of charges under Section 135. However, the facility of extension of period of 30 days is not available to the Registrar for the registration of satisfaction of charges under Section 138 of the Act. The powers to condone the delay and grant extension for filing these documents beyond a period of 60 days or 30 days, as the case may be, vest in the Company Law Board (CLB) in ter ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Section 141 of the Act. Even though, this power has been sought to be conferred on the Central Government by the Companies (Second Amendment) Act, 2002, the same has not been notified due to pendency of proceedings before the Supreme Court. The power exercised by this Board under Section 141 is purely procedural and very rarely any adjudicatory issue arises. In other words, there has been hardly any legal issue requiring application of mind is involved in disposal of the applications under Section 141. Taking this aspect into consideration and also the fact that a lot of time, efforts and money are involved in prosecuting an application under Section 141, I find justification in the application of the Central Government. Accordin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 08.2007 passed by the Company Law Board as reproduced above, following decisions have been taken for implementation of the said order:- (i) The aforesaid order shall take effect from the 27th October, 2007. (ii) Documents under the defined categories for registration/ modification/ satisfaction of charge, excepting those mentioned under Para 6 of the order, shall be accepted for filing under MCA 21 system up to 300 days from the event date with effect from 27th October,2007. (iii) The Registrar of Companies shall register the documents so filed in cases where: (a) there are no disputes and (b) there is an omission in filing of the particulars or the registration/ modification of the charge or in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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