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Form No. 8

Yogesh Shah (Managing Corporate Finance) (1051 Points)

13 July 2010

Hye Folks ....

Im thankful to Mr. Deepak & Mr. Nitin for their earlier replies ….

I wanna know how to file a petition to CLB for ‘Condonation of Delay’ (since company has made a default in filing Form No. 8).

I checked CLB website also but I got nothing over der.

Is there a particular form for petition or

Am I required to make a simple e-mail to their official web address or

Anything else ?

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1 Replies

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17848 Points)
Replied 13 July 2010

Hello Mr. Yogesh,

Under Section 141, CLB has been vested powers to condone delay and grant extention of time for filing of particulars of charges or satisfaction of charge if the company has not filed form 8 within 60 days for creation or modification and form 17 within 30 days for satisfaction of charge.

The procedure of filing petiiton is as under:-

1. Convene a Board Meeting to aprove the proposal for making an application to the CLB.

2. A petition is prepared for submission to the appropriate Bench of the CLB along with prescribed fee and no E form has been prescribed. Petition is prepared in form 1 of Company Law Board Regulations, 1991.

3. Following enclosures shall be annexed to the petition:-

i. Three copies of agreement creating/ modifying charge.

ii. Affidavit in form 2 and 6 prescribed by the CLB Regulations, 1991

iii. Treasury Challan/ DD evidencing payment of prescribed fees.

iv. Memorandum of Apperance in form 5 of the above rules in respect of the person authorised to appear before the bench.

4.After filing of petition, individual notices should be served on such persons as the Bench may direct. Evidence may be taken by the Bench to satisfy itself about the facts. [capital finance co. ltd.]