Amendment in company law board regulations, 1991

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CMA. CS. Sanjay Gupta

"PROUD TO BE AN INDIAN"

114240 Points Joined February 2009

COMPANY LAW BOARD REGULATIONS, 1991 - AMENDMENT IN REGULATIONS 2, 4, 14, 15, 18 & FORM NO.1 & ANNEXURE III

ORDER (FILE NO.10/36/2001-CLB), DATED 25-9-2013

In exercise of the powers conferred by sub-section (4B) and sub-section (6) of section 10(E) of the Companies Act, 1956 (1 of 1956) read with Regulation 4 of the Company Law Board Regulations, 1991 and Ministry of Corporate Affairs, companies (removal of Difficulties) order, 2013 dated 20.09.2013 notified under sub-section (1) of section 470 of the Companies Act, 2013, the Board, hereby, makes the following Regulations further to amend the Company Law Board Regulations 1991, namely:—

1. In CHAPTER I of the Company Law Board Regulations, 1991, (hereinafter referred to as the said regulations),—

(a)		In Definitions, in definition 2(1)(a), for the expression "Act" means the Companies Act, 1956 (1 of 1956), the following expressions shall be substituted namely:—
		"Act" means the Companies Act, 1956 (1 of 1956) and Companies Act, 2013 (1 of 2013) as applicable."

2. In CHAPTER II of the said Regulations,

(a)		In Regulation 4, for sub-regulation (3), the following sub-regulation shall be substituted namely:—
		"It shall be lawful for the Chairman to provide that matters falling under sections 43, 49, 58A, 58AA, 79, 80A, 111 and/or 111A (petitions received and registered in CLB upto 11.09.2013), 113, 117, 117C, 118, 144, 163, 167, 186, 196, 219, 225, 235, 237B, 247, 284, 304, 307, 614, 621A and all matters arising under Chapter VI (prevention of oppression and mismanagement) of the Companies Act, 1956, section 45QA of the R.B.I. Act, 1934 and sections 24, 58 and 59 (petitions received and registered in CLB on or after 12.09.2013) of the Companies Act, 2013 shall be dealt by Regional Benches, namely, New Delhi Bench, Chennai Bench, Kolkata Bench and Mumbai Bench, consisting of one or more Members."
(b)		In Regulation 14 of the said regulations,

(i)		for sub-regulation (2), the following sub-regulation shall be substituted namely:—
		"The petitioner/applicant shall serve an advance notice with a copy of the petition, reference or application on the respondent(s) and shall produce evidence of such service at the time of presentation of such petition, reference or application in CLB."
(ii)		for sub-regulation (3), the following sub-regulation shall be substituted namely:—
		"The Petitioner shall serve a copy of the reference or petition other than a petition under sections 49, 79, 80 A, 111 and/or 111 A (petitions received and registered in CLB upto 11.09.2013), 113,118, 144, 163,188,196, 219, 225, 284, 304 and 307 of the Companies Act, 1956 and under sections 58 and 59 (petitions received and registered in CLB on or after 12.09.2013) of the Companies Act, 2013, upon the concerned Registrar of Companies having jurisdiction over the company and shall attach to and present with his petition, reference, an acknowledgement from the office of the Registrar of Companies receiving a copy of the petition or reference so served."

(c)

In Regulation 15 of the said regulations,

(i)		for sub-regulation (2), the following sub-regulation shall be substituted namely:—
		"Every petition or application shall be presented in CLB after giving two clear working days advance notice for mentioning (excluding the date of such presentation) and accompanied by evidence of such advance notice having been served on the respondent(s). If, on scrutiny, the petition or application is found to be in order, it shall be duly registered and given a serial number."
(ii)		after sub-regulation (2), the following proviso shall be inserted namely:—

		"Provided that in an exceptional situation of urgency, the above notice period may be dispensed with by the order of the Bench."
(d)		In Regulation 18 of the said regulations,

(i)		for sub-regulation (1), the following sub-regulation shall be substituted namely:—
		"A petition shall be accompanied by documents as prescribed in Annexure III and shall be accompanied by an index of documents, brief of synopsis within two pages and date of events within two pages."

3. In CHAPTER IV of the said Regulations,

(a)		In Annexure II, in Form No. 1, for the expression in the matter of Companies Act, 1956, the following expression shall be substituted namely:—
		"In the matter of Companies Act, 1956/ The Companies Act, 2013"
(b)		In Annexure III of the said Regulations, against serial number 9, for the expressions 111 (or 111A), the following expression shall be substituted namely:—
		"111 (or 111A) of the Companies Act, 1956 and 58 (or 59) of the Companies Act, 2013."

4. This order shall come into force with immediate effect.

The Order is attached herewith.

Attached File : 149668 1234838 amendment in clb regulation w e f 25 09 2013.pdf downloaded: 144 times

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CMA. CS. Sanjay Gupta

"PROUD TO BE AN INDIAN"

114240 Points Joined February 2009

CLB constitutes benches to exercise powers of Tribunal under the Companies Act, 2013

ORDER (FILE NO. 10/43/2005-CLB), DATED 25-9-2013

The Companies Act, 2013 received the assent of the President of India on 29-8-2013 and was notified in the Gazette of India on 30-8-2013. Towards its implementation, 98 sections of the Companies Act, 2013 have come into force w.e.f. 12-9-2013. Sections 58 & 59 of the Companies Act, 2013, which came into force w.e.f. 12-9-2013, are the corresponding sections to sections 111 & 111A of the Companies Act, 1956. After implementations of the sections 58 & 59 of the Companies Act, 2013, sections 111 & 111A of the Companies Act, 1956 ceased to have effect from 12-9-2013.

2. In this respect, Ministry of Corporate Affairs, in exercise of the powers conferred by sub-section (1) of section 470 of the Companies Act, 2013, has issued an order dated 20-9-2013, clarifying that until a date is notified by the Central Government under sub-section (1) of section 434 of the Companies Act, 2013 (18 of 2013) for transfer of all matters, proceedings or cases to the Tribunal constituted under Chapter XXVII of the said Act, the Board of Company Law Administration shall exercise the powers of the Tribunal under sections 24, 58 and section 59 in pursuance of the second proviso to sub-section (1) of section 465 of the said Act.

3. Therefore, in exercise of the powers conferred by Sub-section 4(B) of section 10(E) of the Companies Act, 1956 (1 of 1956) read with Regulation 4 of the Company Law Board Regulations, 1991 and in supersession of all earlier orders, the Board hereby constitutes the following Benches for the purpose of exercising and discharging the Board's powers and functions in the manner specified below:—

(a)		Matters filed before the Principal Bench before 31st March 2008 and pending in the following Benches shall be dealt with by any one of the following:—
		NEW DELHI BENCH
		1. Justice Shri Dilip Raosaheb Deshmukh, Chairman.
		2. Shri B. S. V. Prakash Kumar, Member (Judicial).
		3. Shri Dhan Raj, Member (Technical).
		KOLKATA BENCH
		1. Justice Shri Dilip Raosaheb Deshmukh, Chairman.
		2. Shri Amalesh Bandopadhyay, Member (Technical).
		MUMBAI BENCH
		1. Justice Shri Dilip Raosaheb Deshmukh, Chairman.
		2. Shri A. K. Tripathi, Member (Judicial).
		CHENNAI BENCH
		1. Justice Shri Dilip Raosaheb Deshmukh, Chairman.
		2. Shri Kanthi Narahari, Member, (Judicial).
(b)		Matters pending before the Additional Principal Bench as on 31st March 2008 shall be dealt with by the Chennai Bench consisting of any one of the following:

a.		Justice Shri Dilip Raosaheb Deshmukh, Chairman.
b.		Shri Kanthi Narahari, Member, (Judicial).

(c)

The Constitution of the Benches shall be as under:

		PRINCIPAL BENCH
(1)		All matters relating to sections 250, 269 and 388B of the Companies Act, 1956 shall be dealt in the Principal Bench at New Delhiby Justice Shri Dilip Raosaheb Deshmukh, Chairman.
		NEW DELHI BENCH
(2)		Matters relating to sections 111 and/or 111A (received and registered in CLB upto 11-9-2013), sections 235, 237B, 247, 284, 304, 307, 614 and all matters arising under Chapter VI (prevention of oppression and mismanagement) of the Companies Act, 1956 and sections 24, 58 and 59 (petitions received and registered in CLB on or after 12-9-2013) of the Companies Act, 2013 falling within the State of Delhi, Haryana, Rajasthan, Uttarakhand, Jammu & Kashmir, Uttar Pradesh, Punjab, Himachal Pradesh and Union Territory of Chandigarh shall be dealt by the New Delhi Bench consisting of any one of the following:

a.		Justice Shri Dilip Raosaheb Deshmukh, Chairman.
b.		Shri B. S.V. Prakash Kumar, Member (Judicial).
c.		Shri Dhan Raj, Member (Technical).

(3)

All Matters relating to Sections 43, 49, 58A, 58AA, 79, 80A, 113,117B, 117C, 118,144,163,167,186,196, 219, 225, 614 and 621A of the Companies Act, 1956 and section 45QA of the R.B.I. Act, 1934 falling within the jurisdiction of the New Delhi Bench shall be dealt by the New Delhi Bench consisting of any one of the following:

a.		Justice Shri Dilip Raosaheb Deshmukh, Chairman.
b.		Shri Dhan Raj, Member (Technical).

		KOLKATA BENCH
(4)		Matters falling under sections 43, 49, 58A, 58AA, 79, 80A, 111 and/or 111A (petitions received and registered in CLB up to 11-9-2013), 113, 117,117C, 118,144,163,167,186,196, 219, 225, 235, 237B, 247, 284, 304, 307, 614, 621A and all matters arising under Chapter VI (prevention of oppression and mismanagement) of the Companies Act, 1956, section 45QA of the R.B.I. Act, 1934 and sections 24, 58 and 59 (petitions received and registered in CLB on or after 12-9-2013) of the Companies Act, 2013 falling within the jurisdiction of the Kolkata Bench shall be dealt by the Kolkata Bench consisting of any one of the following:

a.		Justice Shri Dilip Raosaheb Deshmukh, Chairman.
b.		Shri Amalesh Bandopadhyay, Member (Technical).

		MUMBAI BENCH
(5)		Matters falling under sections 43, 49, 58A, 58AA, 79, 80A, 111 and/or 111 A (petitions received and registered in CLB upto 11-9-2013), 113,117,117C, 118,144,163,167,186,196,219,225, 235, 237B, 247,284,304,307, 614, 621A and all matters arising under Chapter VI (prevention of oppression and mismanagement) of the Companies Act, 1956, section 45QA of the R.B.I. Act, 1934 and sections 24, 58 and 59 (petitions received and registered in CLB on or after 12-9-2013) of the Companies Act, 2013 falling within the jurisdiction of the Mumbai Bench shall be dealt by the Mumbai Bench consisting of any one of the following:

a.		Justice Shri Dilip Raosaheb Deshmukh, Chairman.
b.		Shri Ashok Kumar Tripathi, Member (Judicial).

		CHENNAI BENCH
(6)		Matters falling under sections 43, 49, 58A, 58AA, 79, 80A, 111 and/or 111 A (petitions received and registered in CLB up to 11-9-2013), 113,117,117C, 118,144,163,167,186,196, 219, 225, 235, 237B, 247, 284, 304, 307, 614, 621A and all matters arising under Chapter VI (prevention of oppression and mismanagement) of the Companies Act, 1956, section 45QA of the R.B.I. Act, 1934 and sections 24, 58 and 59 (petitions received and registered in CLB on or after 12-9-2013) of the Companies Act, 2013 falling within the jurisdiction of the Chennai Bench shall be dealt by the Chennai Bench consisting of any one of the following: