Public Deposits - Repayment ‑ Applicability of section 58A(9), in the case of a relief undertaking declared by a local Act or Central Act

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..... ef undertaking declared by a local Act or Central Act I am directed to say that several States have promulgated Acts to provide financial assistance to relief undertakings, like, the Bombay Relief Undertakings (Special Provisions) Act, 1958, the Rajasthan Relief Undertakings (Special Provisions) Act, 1961, etc. Under the said enact ments, the State Government may, by notification, inter alia, .....

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..... rovisions of the said Act, the monetary liabilities of the relief undertakings during the notified period stand suspended and any proceedings, including proceed ings under section 58A(9) of the Companies Act, 1956, shall remain stayed. Action under section 58A(9) of the Act can be considered only after the expiry of the period for which the relief undertakings have been so notified. - Circular - .....

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