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Central Acts and Rules Amended and Updated
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      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Adaptation of section 159 in its application to foreign companies.
      • 4. Penalty.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Accounting Standards.
      • 4. Obligation to comply with the Accounting Standards.
      • 5.
      • 1. Short title and commencement.
      • 2. Appointment, etc., of whole-time secretary.
      • 3. Provisions relating to existing secretaries.
      • 1. Short title and commencement.
      • 2. Form of application for seeking approval of the Central Government for appointment of sole agents.
      • 3. Fees to be paid along with the application.
      • 1. Short title and Commencement.
      • 2. Definitions.
      • 3. Applications.
      • 4. Manner of election of small shareholders' director.
      • 5. Disqualification.
      • 6. Vacation of office.
      • 7. Restriction on number of directorship.
      • 1. Short title, application and commencement.
      • 2. Definitions.
      • 3. Auditor's report to contain matters specified in paragraphs 4 and 5.
      • 4. Matters to be included in the auditor's report.
      • 5. Reasons to be stated for unfavourable or qualified answers.
      • 1. Short Title and Commencement.
      • 2. Definition.-
      • 3. Other Conditions.-
      • 1. Short Title and Commencement.
      • 2. Definitions and Interpretations.
      • 3. Application.
      • 4. Maintenance of records.
      • 5. Form of the Compliance Report.
      • 6. Time limit for submission of compliance Report.
      • 7. Authentication of Annexure to the Compliance Report.
      • 8. Penalties.
      • 9. Savings.
      • 1. Short Title and Commencement.
      • 2. Definitions and Interpretations.
      • 3. Application.
      • 4. Form of the Report.
      • 5. Time limit for submission of Report.
      • 6. Cost Auditor to be furnished with the cost accounting records etc.
      • 7. Authentication of Annexure to the Cost Audit Report.
      • 8. Penalties.
      • 9. Savings.
      • 1. Short title and commencement.
      • 2. Interpretation.
      • 3. Proceedings to be neat and legible.
      • 4. Form of proceedings.
      • 5. Language of proceedings.
      • 6. Practice and Procedure of the Court and provisions of the Code to apply.
      • 7. Power of Court to enlarge or abridge time.
      • 8. Computation of time.
      • 9. Inherent powers of Court.
      • 10. Applications how made.
      • 11. (a) Petitions.
      • 12. Matters to be heard in open Court and in Chambers.
      • 13. Registers to be kept.
      • 14. Serial number of proceedings.
      • 15. Process to be sealed.
      • 16. Inspection and copies of proceedings.
      • 17. Forms.
      • 18. Affidavits.
      • 19. Form of Judge's summons and service thereof.
      • 20. Issue of summons.
      • 21. Affidavit verifying petition.
      • 22. Enclosures to petition.
      • 23. Summons for direction.
      • 24. Advertisement of petition.
      • 25. Contents of advertisement.
      • 26. Service of petition.
      • 27. Notice of petition and time of service.
      • 28. Service on company.
      • 29. Petitioner to effect service.
      • 30. Affidavit of service.
      • 31. Procedure on default of compliance as regards advertisement and service of notice.
      • 32. Mode of service and service when deemed to be effected.
      • 33. Validity of service and of proceedings.
      • 34. Notice to be given by persons intending to appear at the hearing of petition.
      • 35. List of persons, intending to appear, to be filed.
      • 36. Procedure at hearing of petition.
      • 37. Order to be drawn up.
      • 38. Form of petition under section 17 and summons for directions.
      • 39. Direction at hearing of summons.
      • 40. Notice to Registrar of Companies and Central Government.
      • 41. Procedure where creditors are entitled to object.
      • 42. Order confirming alteration.
      • 43. Petition under section 579.
      • 44. Petition for sanctioning the issue of shares at a discount.
      • 45. Order sanctioning issue to be delivered to Registrar of Companies.
      • 46. Form of petition for reduction of share capital and summons for directions.
      • 47. Procedure on hearing of summons.
      • 48. Directions at the hearing of summons.
      • 49. List of creditors.
      • 50. Affidavit verifying list of creditors.
      • 51. Inspection of list of creditors.
      • 52. Notice to creditors.
      • 53. Advertisement of petition and list of creditors.
      • 54. Affidavit of service.
      • 55. Affidavit by company as to the result of rules 52 and 53.
      • 56. Procedure where claim is not admitted, and proof of debt.
      • 57. Costs of proof.
      • 58. Certificate by the Judge as to creditors.
      • 59. Hearing of petition.
      • 60. Who may appear and oppose.
      • 61. Directions at hearing.
      • 62. Order on petition.
      • 63. Minute.
      • 64. Advertisement of reasons for reduction of capital.
      • 65. Form of minute and notice of registration.
      • 66. Petition to cancel variation of rights.
      • 67. Summons for directions to convene a meeting.
      • 68. Service on company.
      • 69. Directions at hearing of summons.
      • 70. Proxies.
      • 71. Application for stay.
      • 72. Application to vacate or vary order of stay.
      • 73. Notice of meeting.
      • 74. Advertisement of the notice of meeting.
      • 75. Copy of compromise or arrangement to be furnished by the company.
      • 76. Affidavit of service.
      • 77. Result of the meeting to be decided by poll.
      • 78. Report of the result of the meeting.
      • 79. Petition for confirming compromise or arrangement.
      • 80. Date and notice of hearing.
      • 81. Order on petition.
      • 82. Application for directions under section 394.
      • 83. Directions at hearing of application.
      • 84. Order under section 394.
      • 85. Compromise or arrangement involving reduction of capital.
      • 86. Report on working of compromise or arrangement.
      • 87. Liberty to apply.
      • 88. Petition under section 397 or 398.
      • 89. Notice to Central Government.
      • 90. Order involving reduction of capital or alteration of memorandum.
      • 91. Application under section 407(1)(b) for leave to act as managing director, etc.
      • 92. Notice to Registrar of Companies.
      • 93. Delivery of order and advertisement thereof.
      • 94. Registrar's costs of petition.
      • 95. Petition for windingup.
      • 96. Admission of petition and directions as to advertisement.
      • 97. Petition by a contingent or prospective creditor.
      • 98. Copy of petition to be furnished.
      • 99. Advertisement of petition.
      • 100. Application for leave to withdraw petition.
      • 101. Substitution of creditor or contributory for original petitioner.
      • 102. Procedure on substitution.
      • 103. Affidavitinopposition.
      • 104. Affidavit in reply.
      • 105. Stay of suit or proceeding pending petition.
      • 106. Appointment of Provisional Liquidator.
      • 107. Rules applicable to Provisional Liquidator.
      • 108. Costs, etc., of Provisional Liquidator.
      • 109. Notice to Official of order.
      • 110. Contents of windingup order and order appointing Provisional Liquidator.
      • 111. Order to be sent to Official Liquidator and form of order.
      • 112. Directions on making the windingup order.
      • 113. Advertisement of the order.
      • 114. Official Liquidator to take charge of assets and books and papers of company.
      • 115. Form of proceedings after windingup order is made.
      • 116. Application for stay of windingup proceedings.
      • 117. Application for leave to commence or continue suit or proceeding.
      • 118. Application for transfer of suit or proceeding.
      • 119. Application for transfer.
      • 120. Transmission of records upon transfer of proceeding.
      • 121. Proceedings to be renumbered.
      • 122. Notice to Official Liquidator.
      • 123. Official Liquidator of Transferee Court to be Liquidator.
      • 124. Notice to submit statement.
      • 125. Application by Official Liquidator under section 454(2).
      • 126. Preparation of statement of affairs.
      • 127. Form of the statement.
      • 128. Extension of time for submitting statement.
      • 129. Expenses of preparing the statement.
      • 130. Officers of company to attend and give information.
      • 131. Duty of person making or concurring in statement.
      • 132. Default in complying with section 454.
      • 133. Dispensing with statement of affairs.
      • 134. Liquidator involuntary windingup or windingup subject to supervision,to submit statement.
      • 135. Preliminary report by Official Liquidator.
      • 136. Inspection of statement and preliminary report.
      • 137. Further report by Official Liquidator.
      • 138. Consideration of report by Court.
      • 139. Summons for directions to be taken out by Official Liquidator.
      • 140. First meeting of creditors and contributories.
      • 141. Official Liquidator to report result of meeting and apply for directions.
      • 142. Application for order not to fill vacancy in Committee.
      • 143. Liquidator and members of the Committee dealing with company's assets.
      • 144. Committee of Inspection not to make profit.
      • 145. Cost of obtaining sanction of Court.
      • 146. Order sanctioning payment to Committee.
      • 147. Fixing a date for proving debts.
      • 148. Notice to creditors.
      • 149. Proof of debt.
      • 150. Mode of proof and verification thereof.
      • 151. Contents of proof.
      • 152. Workmen's wages.
      • 153. Production of bills of exchange and promissory notes.
      • 154. Value of debts.
      • 155. Discount.
      • 156. Interest.
      • 157. Periodical payments.
      • 158. Proof of debt payable at a future time.
      • 159. Examination of proof.
      • 160. Official Liquidator's right to summon any person in connection with the investigation.
      • 161. Oaths.
      • 162. Costs of proof.
      • 163. Acceptance or rejection of proof to be communicated.
      • 164. Appeal by creditor.
      • 165. Procedure where creditor appeals.
      • 166. Official Liquidator not to be personally liable for costs.
      • 167. Proofs and list of creditors to be filed in Court.
      • 168. List of creditors not to be varied.
      • 169. Notice of filling the list and inspection of the same.
      • 170. Procedure in the District Court regarding proof of claims.
      • 171. List of proofs and summons for directions.
      • 172. Direction at hearing of summons.
      • 173. Notice to be given to creditors.
      • 174. Settlement of list of creditors.
      • 175. Inspection of the list of creditors and the proofs filed.
      • 176. Expunging of proof.
      • 177. Procedure on failure to prove the debt within the time fixed.
      • 178. Right of creditor who has not proved debt before declaration of dividend.
      • 179. Payment of subsequent interest.
      • 180. Provisional list of contributories.
      • 181. Notice to be given of date of settlement of list.
      • 182. Settlement of the list.
      • 183. Certificate of final settlement to be filed in Court.
      • 184. Notice of settlement to contributories.
      • 185. Supplemental list of contributories.
      • 186. Variation of list.
      • 187. Application by Official Liquidator for rectification of list.
      • 188. Application by contributory to vary the list.
      • 189. Official Liquidator not to be personally liable for costs.
      • 190. Settlement of the list of contributories in District Courts.
      • 191. Notice to be given of date of settlement.
      • 192. Settlement of the list.
      • 193. Supplemental list of contributories.
      • 194. Application for rectification of list.
      • 195. List of contributories consisting of past members.
      • 196. List of contributories under section 104(1)(b).
      • 197. 'Court meetings', 'Liquidators' meetings' and 'Voluntary Liquidation meetings'.
      • 198. Application of Rules to meetings.
      • 199. Notice of meeting.
      • 200. Place and time of meeting.
      • 201. Notice of first or other meeting to officers of company.
      • 202. Proof of notice.
      • 203. Costs of calling meetings at the instance of creditor or contributory.
      • 204. Chairman of meeting.
      • 205. Resolution at creditors' meeting.
      • 206. Resolution of contributories' meeting.
      • 207. Copies of resolutions to be filed.
      • 208. Nonreceipt of notice by a creditor or contributory.
      • 209. Adjournments.
      • 210. Quorum.
      • 211. Procedure in the absence of quorum.
      • 212. When creditor can vote.
      • 213. Case to which creditors my not vote.
      • 214. When secured creditor can vote.
      • 215. Effect of voting by a secured creditor.
      • 216. Procedure when secured creditor votes without surrendering security.
      • 217. Admission or rejection of proofs for purposes of voting.
      • 218. Minutes of proceedings.
      • 219. Report of Court meetings.
      • 220. Voting by proxies.
      • 221. Form of proxies.
      • 222. Proxies to Liquidator or chairman.
      • 223. Use of proxies by deputy.
      • 224. Forms to be sent with notice.
      • 225. Proxies to be lodged.
      • 226. Holder of proxy not to vote on matter in which he is financially intereste.
      • 227. Minor not to be appointed proxy.
      • 228. Filling in proxy where creditor or contributory is blind or incapable.
      • 229. Proxy of person not acquainted with English.
      • 230. Attendance at proceedings.
      • 231. Representation of creditors and contributories before Court.
      • 232. Powers of Official Liquidator.
      • 233. Official Liquidator to be in the position of a receiver.
      • 234. Company's property to be to surrendered to Official Liquidator on requisition.
      • 235. Calls by the Liquidator.
      • 236. Official Liquidator to realise uncalled capital.
      • 237. Application for leave to make call.
      • 238. Notice of application.
      • 239. Order granting leave to make a call and document making the call.
      • 240. Service of notice of call.
      • 241. Order for payment of call.
      • 242. Other moneys due by contributories.
      • 243. Application for examination under section 477.
      • 244. Directions at hearing of summons.
      • 245. Examination on commission or by interrogatories.
      • 246. Service of the summons.
      • 247. Conduct of the examination.
      • 248. Notes of the deposition.
      • 249. Order for public examination under section 478.
      • 250. Notice of public examination.
      • 251. Adjournment of public examination to Court.
      • 252. Procedure for contumacy.
      • 253. Notes of Examination.
      • 254. Shorthand notes of examination under sections 477 and 478.
      • 255. Application under section 478(7)(a).
      • 256. Default in attending examination under section 477 or 478.
      • 257. Prison to which person arrested or warrant is to be taken.
      • 258. Execution of warrant of arrest outside ordinary jurisdiction of court.
      • 259. Public examination under section 519.
      • 260. Applications under section 542 or 543.
      • 261. Directions at preliminary hearing of summons.
      • 262. Liberty to apply for further directions.
      • 263. Application for disclaimer.
      • 264. Preliminary hearing of the summons.
      • 265. Claimant to furnish statement of his.
      • 266. Service of notice.
      • 267. Order granting leave to disclaim.
      • 268. Disclaimer to be filed in Court.
      • 269. Vesting of disclaimed property.
      • 270. No claim to be compromised or abandoned without sanction of Court.
      • 271. Application for sanction of compromise.
      • 272. Sale to be subject to sanction and to confirmation by Court.
      • 273. Procedure at sale.
      • 274. Expenses of sale.
      • 275. Declaration of dividend or return of capital.
      • 276. Notice of declaration.
      • 277. Form of authority to pay dividend.
      • 278. Transmission of dividends by post.
      • 279. Form of order directing return of capital.
      • 280. Payment of dividend or return of capital due to a deceased creditor or contributory.
      • 281. Official Liquidator to apply for dissolution.
      • 822. Dissolution of the company.
      • 283. Liquidator to pay the balance into public account.
      • 284. Conclusion of windingup.
      • 285. Application to declare dissolution void.
      • 286. Registers and Books to be maintained by the Official Liquidator.
      • 287. All money to be paid in to the Reserve Bank.
      • 288. Bills, cheques and securities to be deposited into bank.
      • 289. Payments into Bank under section 471.
      • 290. Official Liquidator's Dividend Account.
      • 291. Fees to be credited to Central Government.
      • 292. Where the company has no available assets.
      • 293. Investment of moneys.
      • 294. Official Liquidator to examine the accounts for purposes of investment.
      • 295. Investments to be made by the Bank.
      • 296. Dividend and interest to be credited.
      • 297. Refunds of Incometax.
      • 298. Halfyearly accounts to be filed.
      • 299. Form of account.
      • 300. Nil account.
      • 301. Registrar to send copy of account to the Auditor.
      • 302. Audit of the Official Liquidator's accounts.
      • 303. Audit certificate to be filed.
      • 304. Audit fees.
      • 305. Inspection of the account and certificate of audit.
      • 306. Account and auditor's report to be placed before Judge.
      • 307. Legal Assistance for the Official Liquidator.
      • 308. Employment of additional or special staff.
      • 309. Apportionment of expenses of common staff.
      • 310. Applications under section 463(2) and section 545(3).
      • 311. Annual statement by the Official Liquidator under section 551.
      • 312. Applicability of rules.
      • 313. Declaration of solvency in a member's voluntary windingup.
      • 314. Statement to be laid before meeting of creditors under section 495(1).
      • 315. Notice of appointment of liquidator.
      • 316. Order for windingup subject to supervision.
      • 317. Security by liquidator appointed by Court.
      • 318. Limit of remuneration of liquidator.
      • 319. Restriction on purchase of goods by liquidator.
      • 320. Office of liquidator vacated by his insolvency.
      • 321. Resignation of liquidator.
      • 322. Duty of liquidator upon resignation.
      • 323. Books to be kept by the liquidator.
      • 324. Banking account of the liquidator.
      • 325. Bills, cheques and securities to be deposited in Bank.
      • 326. Investment of surplus funds.
      • 327. Liquidator's statements under section 551.
      • 328. Annual statement under sections 496(1)(b) and 508(1)(b).
      • 329. Notice convening final meeting and the account to be laid before the meeting.
      • 330. Consideration by Court of the statements under section 551 and final account in a windingup subject to the supervision of the Court.
      • 331. Returns to Registrar of Companies.
      • 332. Inspection by creditor or contributory of statements filed by liquidator.
      • 333. Audit of the liquidators' account.
      • 334. Applications under section 518.
      • 335. Statement to accompany payment.
      • 336. Unclaimed dividends or undistributed assets under investment.
      • 337. Application by person for payment of money paid into the Companies Liquidation Account.
      • 338. Cost and expenses payable out of the assets in a windingup by the Court.
      • 339. Taxation of costs in Bombay, Calcutta and Madras.
      • 340. Registrar to be Taxing Officer.
      • 341. Costs in the discretion of the Court.
      • 342. Costs to be taxed in accordance with the practice and procedure of the Court.
      • 343. All proper charges to be allowed.
      • 344. Contents of bill of costs.
      • 345. Vouchers to be filed.
      • 346. Time for lodging bill.
      • 347. Bill of costs by advocate or other person employed by Official Liquidator.
      • 348. Scale of advocate's fees.
      • 349. Fees in misfeasance proceeding.
      • 350. Fees when proceeding is compromised.
      • 351. Fees to more than one advocate.
      • 352. Costs of parties having common interest.
      • 353. Court's power to fix a fee.
      • 354. Reference to Judge in Chamber.
      • 355. Allowance to witnesses.
      • 356. Taxation between advocate and client.
      • 357. Review of taxation.
      • 358. Appeal against Review.
      • 359. Certificate of taxation.
      • 360. Inspection of file.
      • 361. Saving of Rules under Special Acts.
      • 1. Short title
      • 2. Declaration of Dividend out of Reserves
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Application and allotment of Director Identification Number.
      • 4. Fee.
      • 5. Intimation of DIN to the Company.
      • 6. Intimation of DIN to the Registrar.
      • 7. Duty of director to intimate changes of particulars.
      • 1. Short title, commencement and extent.
      • 2. Definitions.
      • 3. Disqualifications under clause (g) of sub-section (1) of section 274 of the Companies Act, 1956.
      • 4. Duty of Statutory Auditor to report on disqualification.
      • 5. Duty of company to Intimate disqualification.
      • 6. Failure to Intimate disqualification shall render director as officer in default.
      • 7.
      • 8. Names of the disqualified directors on the web-site etc.
      • 9. Duty of every director.
      • 10.
      • 11. Punishment for contravention of the rules.
      • 12.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Filing and Authentication in the electronic manner.
      • 4. Maintenance of website.
      • 5. Maintenance of Electronic Registry.
      • 6. Issue of certificate, approval etc. in the electronic manner.
      • 1. Short title.
      • 2. Fees.
      • 1. Short Title and Commencement.
      • 2. Applicability.
      • 3. Definitions.
      • 4. Eligibility for issue of IDRs.
      • 5. Procedure for making an issue of IDRs.
      • 6. Other conditions for the issue of IDRs.
      • 7. Registration of documents.
      • 8. Conditions for the issue of prospectus and application.
      • 9. Listing of Indian Depository Receipt.
      • 10. Procedure for transfer and redemption.
      • 11. Continuous Disclosure Requirements.
      • 12. Distribution of corporate benefits.
      • 13. Penalty.
      • 14. Repeal and savings.
      • 15. Power of Central Government to decide certain Questions.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Conditions.
      • 4. Register.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Notice.
      • 4. Applications.
      • 5. List of businesses in which the resolutions shall be passed through Postal Ballot.
      • 6. Procedure to be followed for conducting business through Postal Ballot.
      • 7. Procedure to be followed for conducting business by electronic mode.
      • 1. Short title and Commencement.
      • 2. Definitions.
      • 3. Applications.
      • 4. List of businesses in which the resolutions shall be passed through Postal Ballot.
      • 5. Procedure to be followed for conducting business through Postal Ballot.
      • 1. Short title, commencement and extent
      • 2. Definitions
      • 2-A. Interpretation of certain words and expressions
      • 3. Definitions of "company", "existing company", "private company" and "public company"
      • 4. Meaning of "holding company" and "subsidiary"
      • 4-A. Public financial institutions
      • 5. Meaning of "officer who is in default"
      • 6. Meaning of "relative"
      • 7. Interpretation of "person in accordance with whose directions or instructions Directors are accustomed to act"
      • 8. Power of Central Government to declare an establishment not to be a branch office
      • 9. Act to override memorandum, articles, etc
      • 10. Jurisdiction of Courts
      • 10-A. Constitution of Tribunal
      • 10-B. Procedure of Tribunal
      • 10-C. Powers of Tribunal
      • 10-D. Appeals against decisions, etc., of the Tribunal
      • 10-E. Constitution of Board of Company Law Administration
      • 10-F. Appeals against the orders of the Company Law Board
      • 10-FA. Dissolution of Company Law Board
      • 10-FB. Constitution of National Company Law Tribunal
      • 10-FC. Composition of Tribunal
      • 10-FD. Qualifications for appointment of President and Members
      • 10-FE. Term of office of President and Members
      • 10-FF. Financial and administrative powers of Member administration
      • 10-FG. Salary, allowances and other terms and conditions of service of President and other Members
      • 10-FH. Vacancy in Tribunal
      • 10-FI. Resignation of President and Member
      • 10-FJ. Removal and suspension of President or Member
      • 10-FK. officers and employees of Tribunal
      • 10-FL. Benches of Tribunal
      • 10-FM. Order of Tribunal
      • 10-FN. Power to review
      • 10-FO. Delegation of powers
      • 10-FP. Power to seek assistance of Chief Metropolitan Magistrate and District Magistrate
      • 10-FQ. Appeal from order of Tribunal
      • 10-FR. Constitution of Appellate Tribunal
      • 10-FS. Vacancy in Appellate Tribunal, etc
      • 10-FT. Term of office of Chairperson and Members
      • 10-FU. Resignation of Chairperson and Members
      • 10-FV. Removal and suspension of Chairperson and Members of Appellate Tribunal
      • 10-FW. Salary, allowances and other terms and conditions of service of Chairperson and Members
      • 10-FX. Selection Committee
      • 10-FY. Chairperson, etc., to be public servants
      • 10-FZ. Protection of action taken in good faith
      • 10-FZA. Procedure and powers of Tribunal and Appellate Tribunal
      • 10-G. Power to punish for contempt
      • 10-GA. Staff of Appellate Tribunal
      • 10-GB. Civil Court not to have jurisdiction
      • 10-GC. Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings
      • 10-GD. Right to legal representation
      • 10-GE. Limitation
      • 10-GF. Appeal to Supreme Court
      • 11. Prohibition of associations and partnerships exceeding certain number
      • 12. Mode of forming incorporated company
      • 13. Requirements with respect to memorandum
      • 14. Form of memorandum
      • 15. Printing and signature of memorandum
      • 15-A. Special provision as to alteration of memorandum consequent on alteration of name of State of Madras
      • 15-B. Special provision as to alteration of memorandum consequent on alteration of name of State of Mysore
      • 16. Alteration of memorandum
      • 17. Special resolution and confirmation by Central Government required for alteration of memorandum
      • 17-A. Change of registered office within a State
      • 18. Alteration to be registered within three months
      • 19. Effect of failure to register
      • 20. Companies not to be registered with undesirable names
      • 21. Change of name by company
      • 22. Rectification of name of company
      • 23. Registration of change of name and effect thereof
      • 24. Change of name of existing private limited companies
      • 25. Power to dispense with "Limited" in name of charitable or other company
      • 26. Articles prescribing regulations
      • 27. Regulations required in case of unlimited company, company limited by guarantee or private company limited by shares
      • 28. Adoption and application of Table A in the case of companies limited by shares
      • 29. Form of articles in the case of other companies
      • 30. Form and signature of articles
      • 31. Alteration of articles by special resolution
      • 32. Registration of unlimited company as limited, etc
      • 33. Registration of memorandum and articles
      • 34. Effect of registration
      • 35. Conclusiveness of certificate of incorporation
      • 36. Effect of memorandum and articles
      • 37. Provision as to companies limited by guarantee
      • 38. Effect of alteration in memorandum or articles
      • 39. Copies of memorandum and articles, etc., to be given to members
      • 40. Alteration of memorandum or articles, etc., to be noted in every copy
      • 41. Definition of "member"
      • 42. Membership of holding company
      • 43. Consequences of default in complying with conditions constituting a company a private company
      • 43-A. Private company to become public company in certain cases
      • 44. Prospectus or statement in lieu of prospectus to be filed by private company on ceasing to be private company
      • 45. Members severally liable for debts where business carried on with fewer than seven, or in the case of a private company, two members
      • 46. Form of contracts
      • 47. Bills of exchange and promissory notes
      • 48. Execution of deeds
      • 49. Investments of company to be held in its own name
      • 50. Power for company to have official seal for use outside India
      • 51. Service of documents on company
      • 52. Service of documents on Registrar
      • 53. Service of documents on members by company
      • 54. Authentication of documents and proceedings
      • 55. Dating of prospectus
      • 55-A. Powers of Securities and Exchange Board of India
      • 56. Matters to be stated and reports to be set out in prospectus
      • 57. Expert to be unconnected with formation or management of company
      • 58. Expert's consent to issue of prospectus containing statement by him
      • 58-A. Deposits not to be invited without issuing an advertisement
      • 58-AA. Small depositors
      • 58-AAA. Default in acceptance or refund of deposits to be cognizable
      • 58-B. Provisions relating to prospectus to apply to advertisement
      • 59. Penalty and interpretation
      • 60. Registration of prospectus
      • 60-A. Shelf prospectus
      • 60-B. Information memorandum
      • 61. Terms of contract mentioned in prospectus or statement in lieu of prospectus, not to be varied
      • 62. Civil liability for mis-statements in prospectus
      • 63. Criminal liability for mis-statements in prospectus
      • 64. Document containing offer of shares or debentures for sale to be deemed prospectus
      • 65. Interpretation of provisions relating to prospectuses
      • 66. Newspaper advertisements of prospectus
      • 67. Construction of references to offering shares or debentures to the public, etc
      • 68. Penalty for fraudulently inducing persons to invest money
      • 68-A. Personation for acquisition, etc., of shares
      • 68-B. Initial offer of securities to be in dematerialised form in certain cases
      • 69. Prohibition of allotment unless minimum subscription received
      • 70. Prohibition of allotment in certain cases unless statement in lieu of prospectus delivered to Registrar
      • 71. Effect of irregular allotment
      • 72. Applications for, and allotment of, shares and debentures
      • 73. Allotment of shares and debentures to be dealt in on stock exchange
      • 74. Manner of reckoning fifth, eighth and tenth days in sections 72 and 73
      • 75. Return as to allotments
      • 76. Power to pay certain commissions and prohibition of payment of all other commissions, discounts, etc
      • 77. Restrictions on purchase by company, or loans by company for purchase, of its own or its holding company's shares
      • 77-A. Power of company to purchase its own securities
      • 77-AA. Transfer of certain sums to capital redemption reserve account
      • 77-B. Prohibition for buy-back in certain circumstances
      • 78. Application of premiums received on issue of securities
      • 79. Power to issue shares at a discount
      • 79-A. Issue of sweat equity shares
      • 80. Power to issue redeemable preference shares
      • 80-A. Redemption of irredeemable preference shares, etc
      • 81. Further issue of capital
      • 82. Nature of shares or debentures
      • 83. Numbering of shares
      • 84. Certificate of shares
      • 85. Two kinds of share capital
      • 86. New issues of share capital to be only of two kinds
      • 87. Voting rights
      • 88. Prohibition of issue of shares with disproportionate rights
      • 89. Termination of disproportionately excessive voting rights in existing companies
      • 90. Savings
      • 91. Calls on shares of same class to be made on uniform basis
      • 92. Power of company to accept unpaid share capital, although not called-up
      • 93. Payment of dividend in proportion to amount paid-up
      • 94. Power of limited company to alter its share capital
      • 94-A. Share capital to stand increased where an order is made under section 81(4)
      • 95. Notice to Registrar of consolidation of share capital, conversion of shares into stock, etc
      • 96. Effect of conversion of shares into stock
      • 97. Notice of increase of share capital or of members
      • 98. Power of unlimited company to provide for reserve share capital on re-registration
      • 99. Reserve liability of limited company
      • 100. Special resolution for reduction of share capital
      • 101. Application to Tribunal for confirming order, objections by creditors, and settlement of list of objecting creditors
      • 102. Order confirming reduction and powers of Tribunal on making such order
      • 103. Registration of order and minute of reduction
      • 104. Liability of members in respect of reduced shares
      • 105. Penalty for concealing name of creditor, etc
      • 106. Alteration of rights of holders of special classes of shares
      • 107. Rights of dissentient shareholders
      • 108. Transfer not to be registered except on production of instrument of transfer
      • 108-A. Restriction on acquisition of certain shares
      • 108-B. Restriction on transfer of shares
      • 108-C. Restriction on the transfer of shares of foreign companies
      • 108-D. Power of Central Government to direct companies not to give effect to the transfer
      • 108-E. Time within which refusal to be communicated
      • 108-F. Nothing in sections 108-A to 108-D to apply to Government companies, etc
      • 108-G. Applicability of the provisions of sections 108-A to 108-F
      • 108-H. Construction of certain expressions used in sections 108-A to 108-G
      • 108-I. Penalty for acquisition or transfer of share in contravention of sections 108-A to 108-D
      • 109. Transfer by legal representative
      • 109-A. Nomination of shares
      • 109-B. Transmission of shares
      • 110. Application for transfer
      • 111. Power to refuse registration and appeal against refusal
      • 111-A. Rectification of register on transfer
      • 112. Certification of transfers
      • 113. Limitation of time for issue of certificates
      • 114. Issue and effect of share warrants to bearer
      • 115. Share warrants and entries in register of members
      • 116. Penalty for personation of shareholder
      • 117. Debentures with voting rights not to be issued hereafter
      • 117-A. Debenture trust deed
      • 117-B. Appointment of debenture trustees and duties of debenture trustees
      • 117-C. Liability of company to create security and debenture redemption reserve
      • 118. Right to obtain copies of and inspect trust deed
      • 119. Liability of trustees for debenture holders
      • 120. Perpetual debentures
      • 121. Power to re-issue redeemed debentures in certain cases
      • 122. Specific performance of contract to subscribe for debentures
      • 123. Payments of certain debts out of assets subject to floating charge in priority to claims under the charge
      • 124. "Charge" to include mortgage in this Part
      • 125. Certain charges to be void against Liquidator or creditors unless registered
      • 126. Date of notice of charge
      • 127. Registration of charges on properties acquired subject to charge
      • 128. Particulars in case of series of debentures entitling holders pari passu
      • 129. Particulars in case of commission, etc., on debentures
      • 130. Register of charges to be kept by Registrar
      • 131. Index to register of charges
      • 132. Certificate of registration
      • 133. Endorsement of certificate of registration on debenture or certificate of debenture stock
      • 134. Duty of company as regards registration and right of interested party
      • 135. Provisions of Part to apply to modification of charges
      • 136. Copy of instrument creating charge to be kept by company at registered office
      • 137. Entry in register of charges of appointment of receiver or manager
      • 138. Company to report satisfaction and procedure thereafter
      • 139. Power of Registrar to make entries of satisfaction and release in absence of intimation from company
      • 140. Copy of memorandum of satisfaction to be furnished to company
      • 141. Rectification by Central Government of register of charges
      • 142. Penalties
      • 143. Company's register of charges
      • 144. Right to inspect copies of instruments creating charges and company's register of charges
      • 145. Application of Part to charges requiring registration under it but not under previous law
      • 146. Registered office of company
      • 147. Publication of name by company
      • 148. Publication of authorised as well as subscribed and paid-up capital
      • 149. Restrictions on commencement of business
      • 150. Register of members
      • 151. Index of members
      • 152. Register and index of debenture holders
      • 152-A. Register and index of beneficial owners
      • 153. Trusts not to be entered on register
      • 153-A. Appointment of public trustee
      • 153-B. Declaration as to shares and debentures held in trust
      • 154. Power to close register of members or debenture holders
      • 155. Power of Court to rectify register of members
      • 156. Notice to Registrar of rectification of register
      • 157. Power for company to keep foreign register of members or debenture holders
      • 158. Provisions as to foreign registers
      • 159. Annual return to be made by company having a share capital
      • 160. Annual return to be made by company not having a share capital
      • 161. Further provisions regarding annual return and certificate to be annexed thereto
      • 162. Penalty and interpretation
      • 163. Place of keeping, and inspection of, registers and returns
      • 164. Registers, etc., to be evidence
      • 165. Statutory meeting and statutory report of company
      • 166. Annual general meeting
      • 167. Power of Central Government to call annual general meeting
      • 168. Penalty for default in complying with section 166 or 167
      • 169. Calling of extraordinary general meeting on requisition
      • 170. Sections 171 to 186 to apply to meetings
      • 171. Length of notice for calling meeting
      • 172. Contents and manner of service of notice and persons on whom it is to be served
      • 173. Explanatory statement to be annexed to notice
      • 174. Quorum for meeting
      • 175. Chairman of meeting
      • 176. Proxies
      • 177. Voting to be by show of hands in first instance
      • 178. Chairman's declaration of result of voting by show of hands to be conclusive
      • 179. Demand for poll
      • 180. Time of taking poll
      • 181. Restriction on exercise of voting right of members who have not paid calls, etc
      • 182. Restrictions on exercise of voting right in other cases to be void
      • 183. Right of member to use his votes differently
      • 184. Scrutineers at poll
      • 185. Manner of taking poll and result thereof
      • 186. Power of Tribunal to order meeting to be called
      • 187. Representation of corporations at meetings of companies and creditors
      • 187-A. Representation of the President and Governors in meetings of companies of which they are members
      • 187-B. Exercise of voting rights in respect of shares held in trust
      • 187-C. Declaration by persons not holding beneficial interest in any share
      • 187-D. Investigation of beneficial ownership of shares in certain cases
      • 188. Circulation of members' resolutions
      • 189. Ordinary and special resolutions
      • 190. Resolutions requiring special notice
      • 191. Resolutions passed at adjourned meetings
      • 192. Registration of certain resolutions and agreements
      • 192-A. Passing of resolutions by postal ballot
      • 193. Minutes of proceedings of general meetings and of Board and other meetings
      • 194. Minutes to be evidence
      • 195. Presumptions to be drawn where minutes duly drawn and signed
      • 196. Inspection of minute books of general meetings
      • 197. Publication of reports of proceedings of general meetings
      • 197-A. Company not to appoint or employ certain different categories of managerial personnel at the same time
      • 198. Overall maximum managerial remuneration and managerial remuneration in case of absence or inadequacy of profits
      • 199. Calculation of commission, etc., in certain cases
      • 200. Prohibition of tax-free payments
      • 201. Avoidance of provisions relieving liability of officers and auditors of company
      • 202. Undischarged insolvent not to manage companies
      • 203. Power to restrain fraudulent persons from managing companies
      • 204. Restriction on appointment of firm or body corporate to office or place of profit under a company
      • 204-A. Restrictions on the appointment of former Managing agents or secretaries and treasurers to any office
      • 205. Dividend to be paid only out of profits
      • 205-A. Unpaid dividend to be transferred to special dividend account
      • 205-B. Payment of unpaid or unclaimed dividend
      • 205-C. Establishment of Investor Education and Protection Fund
      • 206. Dividend not to be paid except to registered shareholders or to their order or to their bankers
      • 206-A. Right to dividend rights shares and bonus shares to be held in abeyance pending registration of transfer of shares
      • 207. Penalty for failure to distribute dividends within thirty days
      • 208. Power of company to pay interest out of capital in certain cases
      • 209. Books of account to be kept by company
      • 209-A. Inspection of books of account, etc., of companies
      • 210. Annual accounts and balance sheet
      • 210-A. Constitution of National Advisory Committee on Accounting Standards
      • 211. Form and contents of balance sheet and profit and loss account
      • 212. Balance sheet of holding company to include certain particulars as to its subsidiaries
      • 213. Financial year of holding company and subsidiary
      • 214. Rights of holding company's representatives and members
      • 215. Authentication of balance sheet and profit and loss account
      • 216. Profit and loss account to be annexed and auditors' report to be attached to balance sheet
      • 217. Board's report
      • 218. Penalty for improper issue, circulation or publication of balance sheet or profit and loss account
      • 219. Right of member to copies of balance sheet and auditor's report
      • 220. Three copies of balance sheet, etc., to be filed with Registrar
      • 221. Duty of officer to make disclosure of payments, etc
      • 222. Construction of references to documents annexed to accounts
      • 223. Certain companies to publish statement in the Form in Table F in Schedule I
      • 224. Appointment and remuneration of auditors
      • 224-A. Auditor not to be appointed except with the approval of the company by special resolution in certain cases
      • 225. Provisions as to resolutions for appointing or removing auditors
      • 226. Qualifications and disqualifications of auditors
      • 227. Powers and duties of auditors
      • 228. Audit of accounts of branch office of company
      • 229. Signature of audit report, etc
      • 230. Reading and inspection of auditor's report
      • 231. Right of auditor to attend general meeting
      • 232. Penalty for non-compliance with sections 225 to 231
      • 233. Penalty for non-compliance by auditor with sections 227 and 229
      • 233-A. Power of Central Government to direct special audit in certain cases
      • 233-B. Audit of cost accounts in certain cases
      • 234. Power of Registrar to call for information or explanation
      • 234-A. Seizure of documents by Registrar
      • 235. Investigation of the affairs of a company
      • 236. Application by members to be supported by evidence and power to call for security
      • 237. Investigation of company's affairs in other cases
      • 238. Firm, body corporate or association not to be appointed as inspector
      • 239. Power of inspectors to carry investigation into affairs of related companies, etc
      • 240. Production of documents and evidence
      • 240-A. Seizure of documents by inspector
      • 241. Inspectors' report
      • 242. Prosecution
      • 243. Application for winding up of company or an order under section 397 or 398
      • 244. Proceedings for recovery of damages or property
      • 245. Expenses of investigation
      • 246. Inspector's report to be evidence
      • 247. Investigation of ownership of company
      • 248. Information regarding persons having an interest in company, or in body corporate or firm acting as Managing agent thereof
      • 249. Investigation of associateship with Managing agent, etc
      • 250. Imposition of restrictions upon shares and debentures and prohibition of transfer of shares or debentures in certain cases
      • 250-A. Voluntary winding-up of company, etc., not to stop investigation proceedings
      • 251. Saving for legal advisers and bankers
      • 252. Minimum number of Directors
      • 253. Only individuals to be Directors
      • 254. Subscribers of memorandum deemed to be Directors
      • 255. Appointment of Directors and proportion of those who are to retire by rotation
      • 256. Ascertainment of Directors retiring by rotation and filling of vacancies
      • 257. Right of persons other than retiring Directors to stand for Directorship
      • 258. Right of company to increase or reduce the number of Directors
      • 259. Increase in number of Directors to require Government sanction
      • 260. Additional Directors
      • 261. Certain persons not to be appointed Directors, except by special resolution
      • 262. Filling of casual vacancies among Directors
      • 263. Appointment of Directors to be voted on individually
      • 263-A. Sections 177, 255, 256 and 263 not to apply in relation to companies not carrying on business for profit, etc
      • 264. Consent of candidate for Directorship to be filed with the company and consent to act as Director to be filed with the Registrar
      • 265. Option to company to adopt proportional representation for the appointment of Directors
      • 266. Restrictions on appointment or advertisement of Director
      • 266-A. Application for allotment of Director Identification Number
      • 266-B. Allotment of Director Identification Number
      • 266-C. Prohibition to obtain more than one Director Identification Number
      • 266-D. Obligation of Director to intimate Director Identification Number to concerned company or companies
      • 266-E. Obligation of company to inform Director Identification Number to Registrar
      • 266-F. Obligation to indicate Director Identification Number
      • 266-G. Penalty for contravention of provisions of section 266-A or section 266-C or section 266-D or section 266-E
      • 267. Certain persons not to be appointed Managing Directors
      • 268. Amendment of provision relating to managing, whole-time or non-rotational Directors to require Government approval
      • 269. Appointment of managing or whole-time Director or manager to require Government approval only in certain cases
      • 270. Time within which share qualification is to be obtained and maximum amount thereof
      • 271. Filing of declaration of share qualification by Director
      • 272. Penalty
      • 273. Saving
      • 274. Disqualifications of Directors
      • 275. No person to be a Director of more than fifteen companies
      • 276. Choice to be made by Director of more than fifteen companies at commencement of Act
      • 277. Choice by person becoming Director of more than fifteen companies after commencement of Act
      • 278. Exclusion of certain Directorships for the purposes of sections 275, 276 and 277
      • 279. Penalty
      • 280. Age limit
      • 281. Age limit not to apply if company so resolves
      • 282. Duty of Director to disclose age
      • 283. Vacation of office by Directors
      • 284. Removal of Directors
      • 285. Board to meet at least once in every three calendar months
      • 286. Notice of meetings
      • 287. Quorum for meetings
      • 288. Procedure where meeting adjourned for want of quorum
      • 289. Passing of resolution by circulation
      • 290. Validity of acts of Directors
      • 291. General powers of Board
      • 292. Certain powers to be exercised by Board only at meeting
      • 292-A. Audit Committee
      • 293. Restrictions on powers of Board
      • 293-A. Prohibitions and restrictions regarding political contributions
      • 293-B. Power of Board and other persons to make contributions to the National Defence Fund, etc
      • 294. Appointment of sole selling agents to require approval of company in general meeting
      • 294-A. Prohibition of payment of compensation to sole selling agents for loss of office in certain cases
      • 294-AA. Power of Central Government to prohibit the appointment of sole selling agents in certain cases
      • 295. Loans to Directors, etc
      • 296. Application of section 295 to book debts in certain cases
      • 297. Board's sanction to be required for certain contracts in which particular Directors are interested
      • 298. Power of Directors to carry on business when managing agent or secretaries and treasurers are deemed to have vacated office, etc
      • 299. Disclosure of interests by Director
      • 300. Interested Director not to participate or vote in Board's proceedings
      • 301. Register of contracts, companies and firms in which Directors are interested
      • 302. Disclosure to members of Director's interest in contract appointing Manager, Managing Director,
      • 303. Register of Directors etc.
      • 304. Inspection of the register
      • 305. Duty of Directors, etc., to make disclosure
      • 306. Register to be kept by Registrar and inspection thereof
      • 307. Register of Directors' shareholdings, etc
      • 308. Duty of Directors and persons deemed to be Directors to make disclosure of shareholdings
      • 309. Remuneration of Directors
      • 310. Provision for increase in remuneration to require Government sanction
      • 311. Increase in remuneration of Managing Director on re-appointment or appointment after Act to require Government sanction
      • 312. Prohibition of assignment of office by Directors
      • 313. Appointment and term of office of alternate Directors
      • 314. Director, etc., not to hold office or place of profit
      • 315. Application of sections 316 and 317
      • 316. Number of companies of which one person may be appointed Managing Director
      • 317. Managing Director not to be appointed for more than five years at a time
      • 318. Compensation for loss of office not permissible except to managing or whole-time Directors or to Directors who are managers
      • 319. Payment to Director, etc., for loss of office, etc., in connection with transfer of undertaking or property
      • 320. Payment to Director for loss of office, etc., in connection with transfer of shares
      • 321. Provisions supplementary to sections 318, 319 and 320
      • 322. Directors, etc., with unlimited liability in limited company
      • 323. Special resolution of limited company making liability of Directors, etc., unlimited
      • 324. Power of Central Government to notify that companies engaged in specified classes of industry or business shall not have managing agents
      • 324-A. Abolition of managing agencies and secretaries and treasurers
      • 325. Managing agency company not to have managing agent
      • 325-A. Subsidiary of a body corporate not to be appointed as managing agent
      • 326. Central Government to approve of appointment, etc., of managing agent, and circumstances in which approval may be accorded
      • 327. Application of sections 328 to 331
      • 328. Term of office of managing agent
      • 329. Variation of managing agency agreement
      • 330. Term of office of existing managing agents to terminate on 15th August, 1960
      • 331. Application of Act to existing managing agents
      • 332. No person to be managing agent of more than ten companies after 15th August, 1960
      • 333. Right of managing agent to charge on company's assets
      • 334. Vacation of office on insolvency, dissolution or winding up, etc
      • 335. Suspension from office where receiver appointed
      • 336. Vacation of office on conviction in certain cases
      • 337. Removal for fraud or breach of trust
      • 338. Removal for gross negligence or mismanagement
      • 339. Power to call meetings for the purposes of sections 337 and 338 and procedure
      • 340. Time when certain disqualifications will take effect
      • 341. Conviction not to operate as disqualification of convicted partner, Director, etc., is expelled
      • 342. Registration of office by managing agent
      • 343. Transfer of office by managing agent
      • 344. Managing agency not to be heritable after commencement of Act
      • 345. Succession to managing agency by inheritance or devise under agreement before commencement of Act, to be subject to Central Government's approval
      • 346. Changes in constitution of managing agency, firm or corporation to be approved by Central Government
      • 347. Application of Schedule VIII to certain managing agents
      • 348. Remuneration of managing agent ordinarily not to exceed 10 per cent. of net profits
      • 349. Determination of net profits
      • 350. Ascertainment of depreciation
      • 351. Special provision where there is a profit-sharing arrangement between two or more companies
      • 352. Payment of additional remuneration
      • 353. Time of payment of remuneration
      • 354. Managing agent not entitled to office allowance but entitled to be reimbursed in respect of expenses
      • 355. Saving
      • 356. Appointment of managing agent or associate as selling agent of goods produced by the Company
      • 357. Application of section 356 to case where business of company consists of the supply or rendering of any service
      • 358. Appointment of managing agent or associate as buying or selling agent of other concerns
      • 359. Commission, etc., of managing agent as buying or selling agent of other concerns
      • 360. Contracts between managing agent or associate and company for the sale or purchase of goods or the supply of services, etc
      • 361. Existing contracts relating to matters dealt with in sections 356 to 360 to terminate on 1st March, 1958
      • 362. Registers to be open to inspection
      • 363. Remuneration received in contravention of foregoing sections to be held in trust for company
      • 364. Company not to be bound by assignment of, or charge on, managing agent's remuneration
      • 365. Prohibition of payment of compensation for loss of office in certain cases
      • 366. Limit of compensation for loss of office
      • 367. Managing agent's rights and liabilities after termination of office
      • 368. Managing agent to be subject to control of Board and to restrictions in Schedule VII
      • 369. Loans to managing agent
      • 370. Loans, etc., to companies under the same management
      • 370-A. Provisions as to certain loans which could not have been made if sections 369 and 370 were in force
      • 371. Penalty for contravention of section 369, 370 or 370-A
      • 372. Purchase by company of shares, etc., of other companies
      • 372-A. Inter-corporate loans and investments
      • 373. Investments made before commencement of Act
      • 374. Penalty for contravention of section 372 or 373
      • 375. Managing agent not to engage in business competing with business of managed company
      • 376. Conditions prohibiting reconstruction or amalgamation of company
      • 377. Restrictions on right of managing agent to appoint Directors
      • 378. Appointment of secretaries and treasurers
      • 379. Provisions applicable to managing agents to apply to secretaries and treasurers with the exceptions and modifications specified in sections 380 to 383
      • 380. Sections 324, 330 and 332 not to apply
      • 381. Section 348 to apply subject to a modification
      • 382. Secretaries and treasurers not to appoint Directors
      • 383. Secretaries and treasurers not to sell goods or articles produced by company, etc., unless authorised by Board
      • 383-A. Certain companies to have secretaries
      • 384. Firm or body corporate not to be appointed manager
      • 385. Certain persons not to be appointed managers
      • 386. Number of companies of which a person may be appointed manager
      • 387. Remuneration of manager
      • 388. Application of sections 269, 310, 311, 312 and 317 to managers
      • 388-A. Sections 386 to 388 not to apply to certain private companies
      • 388-B. Reference to Tribunal of cases against managerial personnel
      • 388-C. Interim order by Tribunal
      • 388-D. Decision of the Tribunal
      • 388-E. Power of Central Government to remove managerial personnel on the basis of Tribunal decision
      • 389. Power for companies to refer matters to arbitration
      • 390. Interpretation of sections 391 and 393
      • 391. Power to compromise or make arrangements with creditors and members
      • 392. Power of Tribunal to enforce compromise and arrangement
      • 393. Information as to compromises or arrangements with creditors and members
      • 394. Provisions for facilitating reconstruction and amalgamation of companies
      • 394-A. Notice to be given to Central Government for applications under sections 391 and 394
      • 395. Power and duty to acquire shares of shareholders dissenting from scheme or contract approved by majority
      • 396. Power of Central Government to provide for amalgamation of companies in public interest
      • 396-A. Preservation of books and papers of amalgamated company
      • 397. Application to Tribunal for relief in cases of oppression
      • 398. Application to Tribunal for relief in cases of mismanagement
      • 399. Right to apply under sections 397 and 398
      • 400. Notice to be given to Central Government of application under sections 397 and 398
      • 401. Right of Central Government to apply under sections 397 and 398
      • 402. Powers of Tribunal on application under section 397 or 398
      • 403. Interim order by Tribunal
      • 404. Effect of alteration of memorandum or articles of company by order under section 397 or 398
      • 405. Addition of respondents to application under section 397 or 398
      • 406. Application of sections 539 to 544 to proceedings under sections 397 and 398
      • 407. Consequences of termination or modification of certain agreements
      • 408. Powers of Government to prevent oppression or mis-management
      • 409. Power of Tribunal to prevent change in Board of Directors likely to affect company prejudicially
      • 410. Appointment of Advisory Committee
      • 411 to 415
      • 416. Contracts by agents of company in which company is undisclosed principal
      • 417. Employees' securities to be deposited in post office savings bank or Scheduled Bank
      • 418. Provisions applicable to provident funds of employees
      • 419. Right of employee to see bank's receipt for moneys or securities referred to in section 417 or 418
      • 420. Penalty for contravention of sections 417, 418 and 419
      • 421. Filing of accounts of receivers
      • 422. Invoices, etc., to refer to receiver where there is one
      • 423. Penalty for non-compliance with sections 421 and 422
      • 424. Application of sections 421 to 423 to receivers and managers appointed by Tribunal and managers appointed in pursuance of an instrument
      • 424-A. Reference to Tribunal
      • 424-B. Inquiry into working of sick industrial companies
      • 424-C. Powers of Tribunal to make suitable order on completion of inquiry
      • 424-D. Preparation and sanction of schemes
      • 424-E. Rehabilitation by giving financial assistance
      • 424-F. Arrangement for continuing operations, etc., during inquiry
      • 424-G. Winding up of sick industrial company
      • 424-H. Operating agency to prepare complete inventory, etc
      • 424-I. Direction not to dispose of assets
      • 424-J. Power of Tribunal to call for periodic information
      • 424-K. Misfeasance proceedings
      • 424-L. Penalty for certain offences
      • 425. Modes of winding up.-.
      • 426. Liability as contributories of present and past members
      • 427. Obligations of directors and managers whose liability is unlimited
      • 428. Definition of "contributory"
      • 429. Nature of liability of contributory
      • 430. Contributories in case of death of member
      • 431. Contributories in case of insolvency of member
      • 432. Contributories in case of winding up of a body corporate which is a member
      • 433. Circumstances in which company may be wound up by Tribunal
      • 434. Company when deemed unable to pay its debts
      • 435. Transfer of winding up proceedings to District Court
      • 436. Withdrawal and transfer of winding up from one District Court to another
      • 437. Power of High Court retain winding up proceedings in District Court
      • 438. Jurisdiction of High Court under sections 435, 436 and 437 to be exercised at any time and at any stage
      • 439. Provisions as to applications for winding up
      • 439-A. Statement of affairs to be filed on winding up of a company
      • 440. Right to present winding up petition where company is being wound up voluntarily
      • 441. Commencement of winding up by Tribunal
      • 441-A. Levy and collection of cess on turnover or gross receipts of companies
      • 441-B. Crediting proceeds of cess to Consolidated Fund of India
      • 441-C. Rehabilitation and Revival Fund
      • 441-D. Application of Fund
      • 441-E. Power to call for information
      • 441-F. Penalty for non-payment of cess
      • 441-G. Refund of fund in certain cases
      • 442. Power of Court to stay or restrain proceedings against company
      • 443. Power of Tribunal on hearing petition
      • 444. Order for winding up to be communicated to official Liquidator and Registrar
      • 445. Copy of winding up order to be filed with Registrar
      • 446. Suits stayed on winding up order
      • 446-A. Responsibility of Directors and officers to submit to Tribunal audited books and account
      • 447. Effect of winding up order
      • 448. Appointment of official Liquidator
      • 449. official Liquidator to be Liquidator
      • 450. Appointment and powers of provisional Liquidator
      • 451. General provisions as to Liquidators
      • 452. Style, etc., of Liquidator
      • 453. Receiver not to be appointed of assets with Liquidator
      • 454. Statement of affairs to be made to official Liquidator
      • 455. Report by official Liquidator
      • 456. Custody of company's property
      • 457. Powers of Liquidator
      • 458. Discretion of Liquidator
      • 458-A. Exclusion of certain time in computing periods of limitation
      • 459. Provision for legal assistance to Liquidator
      • 460. Exercise and control of Liquidator's powers
      • 461. Books to be kept by Liquidator
      • 462. Audit of Liquidator's accounts
      • 463. Control of Central Government over Liquidators
      • 464. Appointment and composition of committee of inspection
      • 465. Constitution and proceedings of committee of inspection
      • 466. Power of Tribunal to stay winding up
      • 467. Settlement of list of contributories and application of assets
      • 468. Delivery of property to Liquidator
      • 469. Payment of debts due by contributory and extent of set-off
      • 470. Power of Tribunal to make calls
      • 471. Payment into bank of moneys due to company
      • 472. Moneys and securities paid into bank to be subject to order of Tribunal
      • 473. Order on contributory to be conclusive evidence
      • 474. Power to exclude creditors not proving in time
      • 475. Adjustment of rights of contributories
      • 476. Power to order costs
      • 477. Power to summon persons suspected of having property of company, etc
      • 478. Power to order public examination of promoters, Directors, etc
      • 479. Power to arrest absconding contributory
      • 480. Saving of existing powers of Tribunal
      • 481. Dissolution of company
      • 482. Order made in any Court to be enforced by other Courts
      • 483. Appeals from orders
      • 484. Circumstances in which company may be wound up voluntarily
      • 485. Publication of resolution to wind up voluntarily
      • 486. Commencement of voluntary winding up
      • 487. Effect of voluntary winding up on status of company
      • 488. Declaration of solvency in case of proposal to wind up voluntarily
      • 489. Provisions applicable to a member's voluntary winding up
      • 490. Power of company to appoint and fix remuneration of Liquidators
      • 491. Board's powers to cease on appointment of a Liquidator
      • 492. Power to fill vacancy in office of Liquidator
      • 493. Notice of appointment of Liquidator to be given to Registrar
      • 494. Power of Liquidator to accept shares, etc., as consideration for sale of property of company
      • 495. Duty of Liquidator to call creditors' meeting in case of insolvency
      • 496. Duty of Liquidator to call general meeting at the end of each year
      • 497. Final meeting and dissolution
      • 498. Alternative provisions as to annual and final meetings in case of insolvency
      • 499. Provisions applicable to a creditor's voluntary winding up
      • 500. Meeting of creditor's
      • 501. Notice of resolutions passed by creditors' meeting to be given to Registrar
      • 502. Appointment of Liquidator
      • 503. Appointment of committee of inspection
      • 504. Fixing of Liquidator's remuneration
      • 505. Board's powers to cease on appointment of Liquidator
      • 506. Power to fill vacancy in office of Liquidator
      • 507. Application of section 494 to a creditors voluntary winding up
      • 508. Duty of Liquidator to call meetings of company and of creditors at end of each year
      • 509. Final meeting and dissolution
      • 510. Provisions applicable to every voluntary winding up
      • 511. Distribution of property of company
      • 511-A. Application of section 454 to voluntary winding up
      • 512. Powers and duties of Liquidator in voluntary winding up
      • 513. Body corporate not to be appointed as Liquidator
      • 514. Corrupt inducement affecting appointment as Liquidator
      • 515. Power of Tribunal to appoint and remove Liquidator in voluntary winding up
      • 516. Notice by Liquidator of his appointment
      • 517. Arrangement when binding on company and creditors
      • 518. Power to apply to Tribunal to have questions determined or powers exercised
      • 519. Application of Liquidator to Tribunal for public examination of promoters, Directors, etc
      • 520. Costs of voluntary winding up
      • 521. Saving of right of creditors and contributories to apply for winding up
      • 522. Power to order winding up subject to supervision
      • 523. Effect of petition for winding up subject to supervision
      • 524. Power of Court to appoint or remove Liquidators
      • 525. Powers and obligations of Liquidator appointed by Court
      • 526. Effect of supervision order
      • 527. Appointment in certain cases of voluntary Liquidators to office of Liquidators
      • 528. Debts of all descriptions to be admitted to proof
      • 529. Application of insolvency rules in winding up of insolvent companies
      • 529-A. Overriding preferential payments
      • 530. Preferential payments
      • 531. Fraudulent preference
      • 531-A. Avoidance of voluntary transfer
      • 532. Transfers for benefit of all creditors to be void
      • 533. Liabilities and rights of certain fraudulently preferred persons
      • 534. Effect of floating charge
      • 535. Disclaimer of onerous property in case of a company which is being wound up
      • 536. Avoidance of transfers, etc., after commencement of winding up
      • 537. Avoidance of certain attachments, executions, etc., in winding up by Tribunal
      • 538. offences by officers of companies in liquidation
      • 539. Penalty for falsification of books
      • 540. Penalty for frauds by officers
      • 541. Liability where proper accounts not kept
      • 542. Liability for fraudulent conduct of business
      • 543. Power of Tribunal to assess damages against delinquent Directors, etc
      • 544. Liability under sections 542 and 543 to extend to partners or Directors in firm or company
      • 545. Prosecution of delinquent officers and members of the company
      • 546. Liquidator to exercise certain powers subject to sanction
      • 547. Notification that a company is in liquidation
      • 548. Books and papers of company to be evidence
      • 549. Inspection of books and papers by creditors and contributories
      • 550. Disposal of books and papers of company
      • 551. Information as to pending liquidations
      • 552. official Liquidator to make payments into the public account of India
      • 553. Voluntary Liquidator to make payments into Scheduled Bank
      • 554. Liquidator not to pay moneys into private banking account
      • 555. Unpaid dividends and undistributed assets to be paid into the Companies Liquidation Account
      • 556. Enforcement of duty of Liquidator to make returns, etc
      • 557. Meetings to ascertain wishes of creditors or contributories
      • 558. Tribunal or person before whom affidavit may be sworn
      • 559. Power of Tribunal to declare dissolution of company void
      • 560. Power of Registrar to strike defunct company off register
      • 561. Application of Act to companies formed and registered under previous companies laws
      • 562. Application of Act to companies registered but not formed under previous companies laws
      • 563. Application of Act to unlimited companies re-registered under previous companies laws
      • 564. Mode of transferring shares in the case of companies registered under Acts 19 of 1857 and 7 of 1860
      • 565. Companies capable of being registered
      • 566. Definition of "joint-stock company"
      • 567. Requirements for registration of joint-stock companies
      • 568. Requirements for registration of companies not being joint-stock companies
      • 569. Authentication of statements of existing companies
      • 570. Power of Registrar to require evidence as to nature of company
      • 571. Notice to customers on registration of banking company with limited liability
      • 572. Change of name for purposes of registration
      • 573. Addition of "Limited" or "Private Limited" to name
      • 574. Certificate of registration of existing companies
      • 575. Vesting of property on registration
      • 576. Saving for existing liabilities
      • 577. Continuation of pending legal proceedings
      • 578. Effect of registration under Part
      • 579. Power to substitute memorandum and articles for deed of settlement
      • 580. Power of Court to stay or restrain proceedings
      • 581. Suits stayed on winding up order
      • 581-A. Definitions
      • 581-B. Objects of Producer Company
      • 581-C. Formation of Producer Company and its registration
      • 581-D. Membership and voting rights of Members of Producer Company
      • 581-E. Benefits to Members
      • 581-F. Memorandum of Producer Company
      • 581-G. Articles of association
      • 581-H. Amendment of memorandum
      • 581-I. Amendment of articles
      • 581-J. Option to inter-State co-operative societies to become Producer Companies
      • 581-K. Effect of incorporation of Producer Company
      • 581-L. Vesting of undertaking in Producer Company
      • 581-M. Concession, etc., to be deemed to have been granted to Producer Company
      • 581-N. Provisions in respect of officers and other employees of inter-State co-operative society
      • 581-O. Number of Directors
      • 581-P. Appointment of Directors
      • 581-Q. Vacation of office by Directors
      • 581-R. Powers and functions of Board
      • 581-S. Matters to be transacted at general meeting
      • 581-T. Liability of Directors
      • 581-U. Committee of Directors
      • 581-V. Meetings of Board and quorum
      • 581-W. Chief Executive and his functions
      • 581-X. Secretary of Producer Company
      • 581-Y. Quorum
      • 581-Z. Voting rights
      • 581-ZA. Annual general meetings
      • 581-ZB. Share capital
      • 581-ZC. Special user rights
      • 581-ZD Transferability Of Shares And Attendant Rights
      • 581-ZE. Books of account
      • 581-ZF. Internal audit
      • 581-ZG. Duties of auditor under this Part
      • 581-ZH. Donations or subscription by Producer Company
      • 581-ZI. General and other reserves
      • 581-ZJ. Issue of bonus shares
      • 581-ZK. Loan, etc., to Members
      • 581-ZL. Investment in other companies, formation of subsidiaries, etc
      • 581-ZM. Penalty for contravention
      • 581-ZN. Amalgamation, merger or division, etc., to form new Producer Companies
      • 581-ZO. Disputes
      • 581-ZP. Strike off name of Producer Company
      • 581-ZQ. Provisions of this Part to override other laws
      • 581-ZR. Application of provisions relating to private companies
      • 581-ZS. Reconversion of Producer Company to inter-State co-operative society
      • 581-ZT. Power to modify Act in its application to Producer Companies
      • 582. Meaning of "unregistered company"
      • 583. Winding up of unregistered companies
      • 584. Power to wind up foreign companies, although dissolved
      • 585. Contributories in winding up of unregistered company
      • 586. Power to stay or restrain proceedings
      • 587. Suits, etc., stayed on winding up order
      • 588. Directions as to property in certain cases
      • 589. Provisions of Part cumulative
      • 590. Saving and construction of enactments conferring power to wind up partnership, association or company in certain cases
      • 591. Application of sections 592 to 602 to foreign companies
      • 592. Documents, etc., to be delivered to Registrar by foreign companies carrying on business in India
      • 593. Return to be delivered to Registrar by foreign company where documents, etc., altered
      • 594. Accounts of foreign company
      • 595. Obligation to state name of foreign company, whether limited, and country where incorporated
      • 596. Service on foreign company
      • 597. office where documents to be delivered
      • 598. Penalties
      • 599. Company's failure to comply with Part not to affect its liability under contracts, etc
      • 600. Registration of charges, appointment of receiver and books of account
      • 601. Fees for registration of documents under Part
      • 602. Interpretation of foregoing sections of Part
      • 603. Dating of prospectus and particulars to be contained therein
      • 604. Provisions as to expert's consent and allotment
      • 605. Registration of prospectus
      • 605-A. offer of Indian Depository Receipts
      • 606. Penalty for contravention of sections 603, 604 and 605
      • 607. Civil liability for mis-statements in prospectus
      • 608. Interpretation of provisions as to prospectuses
      • 609. Registration offices
      • 610. Inspection, production and evidence of documents kept by Registrar
      • 610-A. Admissibility of micro films, facsimile copies of documents, computer printouts and documents on computer media as documents and as evidence
      • 610-B. Provisions relating to filing of applications, documents inspection, etc., through electronic form
      • 610-C. Power to modify Act in relation to electronic records (including the manner and form in which electronic records) shall be filed
      • 610-D. Providing of value added services through electronic form
      • 610-E. Application of provisions of Act 21 of 2000
      • 611. Fees in Schedule X to be paid
      • 612. Fees, etc., paid to Registrar and other officers to be accounted for to Central Government
      • 613. Power of Central Government to reduce fees, charges, etc
      • 614. Enforcement of duty of company to make returns, etc., to Registrar
      • 614-A. Power of Court trying offences under the Act to direct the filing of documents with Registrar
      • 615. Power of Central Government to direct companies to furnish information or statistics
      • 616. Application of Act to insurance, banking, electricity supply and other companies governed by special Acts
      • 617. Definition of "Government company"
      • 618. Government companies not to have managing agents
      • 619. Application of sections 224 to 233 to Government companies
      • 619-A. Annual reports on Government companies
      • 619-B. Provisions of section 619 to apply to certain companies
      • 620. Power to modify Act in relation to Government companies
      • 620-A. Power to modify Act in its application to Nidhis , etc
      • 620-B. Special provisions as to companies in Goa, Daman and Diu
      • 620-C. Special provisions as to companies in Jammu and Kashmir
      • 621. offences against Act to be cognizable only on complaint by Registrar, shareholder or Government
      • 621-A. Composition of certain offences
      • 622. Jurisdiction to try offences
      • 623. Certain offences triable summarily in Presidency towns
      • 624. offences to be non-cognizable
      • 624-A. Power of Central Government to appoint company prosecutors
      • 624-B. Appeal against acquittal
      • 625. Payment of compensation in cases of frivolous or vexatious prosecution
      • 626. Application of fines
      • 627. Production and inspection of books where offence suspected
      • 628. Penalty for false statements
      • 629. Penalty for false evidence
      • 629-A. Penalty where no specific penalty is provided elsewhere in the Act
      • 630. Penalty for wrongful withholding of property
      • 631. Penalty for improper use of words "Limited" and "Private Limited"
      • 632. Power to require limited company to give security for costs
      • 633. Power of Court to grant relief in certain cases
      • 634. Enforcement of orders of Courts
      • 634-A. Enforcement of orders of Company Law Board
      • 635. Enforcement of orders of one Court by other Courts
      • 635-A. Protection of acts done in good faith
      • 635-AA. Non-disclosure of information in certain cases
      • 635-B. Protection of employees during investigation by inspector or pendency or proceeding before Appellate Tribunal in certain cases
      • 636. Reduction of fees, charges, etc., payable to company
      • 637. Delegation by Central Government of its powers and functions under Act
      • 637-A. Power of Central Government or Tribunal to accord approval, etc., subject to conditions and to prescribe fees on applications
      • 637-AA. Power of Central Government to fix a limit with regard to remuneration
      • 637-B. Condonation of delays in certain cases
      • 638. Annual report by Central Government
      • 639. Annual reports on Government companies to be placed before Parliament, etc
      • 640. Validation of registration of firms as members of charitable and other companies
      • 640-A. Exclusion of time required in obtaining copies of order of Court or Tribunal
      • 640-B. Forms of, and procedure in relation to, certain applications
      • 641. Power to alter Schedules
      • 642. Power of Central Government to make rules
      • 643. Power of Central Government to make rules relating to winding up
      • 644. Repeal of Acts specified in Schedule XII
      • 645. Saving of orders, rules, etc., in force at commencement of Act
      • 646. Saving of operation of section 138 of Act 7 of 1913
      • 647. Saving of pending proceedings for winding up
      • 647-A. Transfer of winding up proceedings to Tribunal
      • 648. Saving of prosecutions instituted by Liquidator or Court under section 237 of Act 7 of 1913
      • 649. Construction of references to former enactments in documents
      • 650. Construction of "registrar of joint stock companies" in Act 21 of 1860
      • 651. Construction of references to extraordinary resolution in articles, etc
      • 651-A. Reference of winding up of companies in any law
      • 652. Appointment under previous companies laws to have effect as if made under Act
      • 653. Former registration offices continued
      • 654. Registers under previous companies laws to be deemed to be part of registers under Act
      • 655. Funds and accounts under Act to be in continuation of funds and accounts under previous companies laws
      • 656. Saving of incorporation under repealed Acts
      • 657. Saving of certain Tables under previous companies laws
      • 1. Short title, commencement and interpretation.
      • 2. Definitions
      • 3.
      • 4.
      • 5.
      • 6.
      • 7.
      • 8.
      • 9.
      • 10.
      • 11.
      • 12.
      • 13.
      • 14.
      • 15.
      • 16.
      • 17.
      • 18.
      • 19.
      • 20.
      • 21.
      • 22.
      • 23.
      • 24.
      • 25.
      • 26.
      • 27.
      • 28.
      • 29.
      • 30.
      • 31.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Qualifications and age limit for appointment of Members.
      • 3A.
      • 4. Method of recruitment.
      • 5. Medical fitness.
      • 6. Resignation by a Member.
      • 7. Removal of Members from office in certain circumstances.
      • 8. Term of office of Chairman, Vice-Chairman and Members.
      • 8A. Casual vacancy.
      • 9. Salary and allowances.
      • 10. Interpretation.
      • 11. Saving.
      • 12. Oaths of office and secrecy.
      • 13. Other conditions of service.
      • 1. Short title, commencement and interpretation.
      • 2. Definitions.
      • 3. Composition of Benches of the Board.
      • 4. Power of the Chairman to specify matters which may be dealt with by a Bench.
      • 5. Vacancy in the office of the Chairman.
      • 6. Inability of the Chairman to function.
      • 7. Jurisdiction of the Bench.
      • 8. Language of the Bench.
      • 9. Sitting hours of the Bench.
      • 10. Bench to have seal of its own.
      • 11. Petitions, etc. to be in writing.
      • 12. Application, reference or petition to be divided into paragraphs.
      • 13. General heading to be in Form No. 1 in Annexure II.
      • 14. Procedure for filing petition.
      • 15. Presentation and scrutiny of petition.
      • 16. Contents of petition.
      • 17. Contents of interlocutory application.
      • 18. Documents to accompany the petition.
      • 19. Rights of a party to appear before the Bench.
      • 20. Plural remedies.
      • 21. Service of notice and process issued by the Bench.
      • 22. Filling of reply and other documents by the respondents.
      • 23. Filling of counter-reply by the petitioner.
      • 24. Power of the Bench to call for further information/evidence.
      • 25. Hearing of petition.
      • 26. Procedure to be followed where any party does not appear.
      • 27. Review.
      • 28. Substitution of legal representative.
      • 29. Order of the Bench.
      • 30. Inspection of record and supply of certified copies.
      • 31. Powers and functions of the Secretary.
      • 32. Powers and duties of the Bench Officer.
      • 33. Registers of petitions and applications.
      • 34. Fees.
      • 35. Reference to Company Law Board.
      • 36.
      • 37. Application for deposit and debenture.
      • 38. Petition under section 397 or 398.
      • 39. Petition under section 407.
      • 40. Reference under section 621A.
      • 41. Petition under section 2A of the Monopolies Act.
      • 42. Reference under section 22A of the Securities Act.
      • 42A. Intimation or petition under section 58AA or 117B.
      • 43. Enlargement of time.
      • 44. Saving of inherent power of the Bench.
      • 45. Amendment of order.
      • 46. General power to amend.
      • 47. Bench to be deemed to be a Court for certain purposes.
      • 48. Power to dispense with the requirement of the regulations.
      • 49. Preparation of paper book.
      • 50. Dress for the member, for the authorised representatives and for the parties in person.
      • 51. Restriction on Audio or video Recording by the parties.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Settlement of offences.
      • 4. Declaration to be filed by the applicant with the Registrar.
      • 5. Time and manner of payment of fees for seeking immunity under the Scheme.
      • 6. Withdrawal of appeal against prosecution launched for the offence.
      • 7. Order by designated authority granting immunity from the penalty and prosecution.
      • 8. Scheme not to apply to certain offence.
      • 9.
      • 10.
      • 11. Submission.
      • 12.
      • 1.
      • 2. Application.
      • 3. Maintenance of records.
      • 4. Penalty.
      • 5. Saving.
      • 1. Short title and commencement.
      • 2. Application.
      • 3. Maintenance of records.
      • 4. Penalty.
      • 1. Short title and commencement.
      • 2. Application.
      • 3. Maintenance of records.
      • 4. Penalty.
      • 1. Short title and commencement.
      • 2. Application.
      • 3. Maintenance of records.
      • 4. Penalty.
      • 1. Short Title and Commencement.
      • 2. Application.
      • 3. Maintenance of records.
      • 4. Penalty.
      • 1. Short title and commencement.
      • 2. Application.
      • 3. Maintenance of records.
      • 4. Penalty.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Application.
      • 4. Form of the Report.
      • 5. Time limit for submission of Report.
      • 6. Cost Auditor to be furnished with the cost accounting records etc.
      • 7. Authentication of Annexure to the Cost Audit Report.
      • 8. Penalties.
      • 1. Short Title and Commencement.
      • 2. Applicability.
      • 3. Approval of the Central Government in case of Appointment of Relatives, etc. of Directors.
      • 4. Selection of Relatives of Directors and Directors to Hold a Place of Office/Profit.
      • 5. Procedure for Examination of Application.
      • 1. Short Title and Commencement.
      • 2. Applicability.
      • 3. Approval of the Central Government in case of Appointment of Relatives etc. of Directors.
      • 4. Procedure of examination of applications.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Certain documents to be preserved permanently.
      • 4. Destruction of documents.
      • 5. Preservation of documents specified in Schedule II.
      • 6. Registered documents of foreign companies.
      • 7. Records to be preserved for three years.
      • 8. Record of document destroyed to be maintained.
      • 9. Application of other rules not barred.
      • 1. Commencement.
      • 2. Definitions.
      • 3. Credits to the Fund.
      • 4. Manner of Accounting.
      • 5. Expenses of the Committee.
      • 6. Audit of Accounts.
      • 7. Constitution and Functions of the Committee.
      • 8. Power to call upon a Company.
      • 9. Report by the Committee.
      • 10. Meetings.
      • 11. Agenda.
      • 12. Voting.
      • 13. Minutes.
      • 14. Conditions for Utilization of Funds by the Committee.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Eligibility Conditions and subscription of Foreign Currency Exchangeable Bonds.
      • 4. End-use requirements.
      • 5. Operational Procedure.
      • 6. Pricing and Maturity.
      • 7. Mandatory Requirements.
      • 8. Retention and deployment of proceeds of Foreign Currency Exchangeable Bond.
      • 9. Taxation on Exchangeable Bonds.
      • 1. Short title and commencement.
      • 2. Applicability.
      • 3. Buying-back.
      • 4. Special resolution.
      • 5. Filing of letter of offer, etc.
      • 6. Offer procedure.
      • 7. Payment to the shareholder.
      • 8. General obligations of the company.
      • 9. Return to be filed with Registrar.
      • 10. Extinguishment of Certificate.
      • 11. Register of shares.
      • 1. Short title and commencement.
      • 2. Applicability.
      • 3. Definition.
      • 4. Investment of general reserves.
      • 1. Short title and Commencement.
      • 2. Definitions.
      • 3. Particulars regarding the terms of issue of debentures or the terms of raising of loans by a public company.
      • 1. Short title and commencement.
      • 2. Definitions.
      • 3. Applicability.
      • 4. Special resolution.
      • 5. Register of shares.
      • 6. Restriction on issue of sweat equity shares.
      • 7. Disclosure in the Directors Report.
      • 8. Pricing of Sweat Equity Shares.
      • 9. Issue of Sweat Equity Shares for consideration other than cash.
      • 10. Lock-in of sweat equity shares.
      • 11. Certificate from auditors.
      • 12. Accounting policies.
      • 1. Short title and commencement.
      • 2. Applicability.
      • 3. Definitions.
      • 4. Special Resolution.
      • 5. Pricing.
      • 6. Disclosures.
      • 7. Audit Certificate.

Company Law Settlement Scheme, 2000

Published vide Notification No. S.O. 529 (E) New Delhi, the 31.5.2000.

1689

S.O. 529 (E) New Delhi, the 31.5.2000.- Whereas the Central Government has decided to make a Scheme namely, the Company Law Settlement Scheme, 2000 for granting immunity from prosecution and compounding the period of delay involving in filing certain documents under the Companies Act, 1956 (1 of 1956);

Now, therefore, in exercise of the powers conferred by clause (b) of Section 637-B read with Section 637 of the said Act, the Central Government hereby notifies the following Scheme, namely :

1. Short title and commencement.- (1) This Scheme may be called the Company Law Settlement Scheme, 2000.

(2) It shall come into force on the 1st day of June, 2000.

2. Definitions.- In this Scheme, unless the context otherwise requires,-

(a) "Act" means the Companies Act, 1956;

(b) "company" means all companies registered under the Act and includes Government companies and companies incorporated outside India to the extent to which the Act is applicable;

(c) "declaration" means the company making the declaration under this Scheme and includes an officer of such company as defined in clause 30 of Section 2 of the Act in relation to the offence mentioned in the declaration filed under this Scheme ;

(d) "designated authority" means the Registrar of Companies having jurisdiction over the registered office of the company on the date of notification;

(e) "offence" means the non-compliance with the provisions of the Act in relation to the filing of any documents specified in the Act in respect of non-compliance of which a fine or imprisonment or both has been prescribed but shall not include any non-compliance referred to in clause 8 of this Scheme;

(f) All other words and expressions used and not defined under this Scheme, but defined in the Act, shall have the meanings respectively assigned to them in the Act.

3. Settlement of offences.- Subject to the provisions of this Scheme, any company may make a declaration alongwith proof of payment of prescribed fee under acknowledgement on or after the 1st June, 2000 but on or before 5.00 P.M. of 31st August, 2000 to the designated authority in respect of any offence committed under the Act and seek settlement of the offence so committed.

4. Declaration to be filed by the applicant with the Registrar.- The declaration under the Scheme shall be made to the designated authority, having the jurisdiction, in Form A.

5. Time and manner of payment of fees for seeking immunity under the Scheme.- The decla rant shall pay lump sum amount based on the period of delay and the nominal filing fees as per Schedule X of the Act, apart from the lump sum amount as stated in the table given below :

Sl. No.

Number of documents

Amount payable for delay less than 3 years

Amount payable for delay for period more than 3 years

(a)

Upto 2

Rs. 2,500

Rs. 3,000

(b)

Upto 5

Rs. 5,000

Rs. 6,000

(c)

Upto 10

Rs. 7,500

Rs. 9,000

(d)

More than 10

Rs. 10,000

Rs. 15,000

The amount payable shall be deposited alongwith a challan form in any of the designated branches of Punjab National Bank or by way of of Pay Order/Demand Draft payable to the Registrar of Companies. Any sum paid for seeking immunity under the Scheme shall not be refundable under any circumstances.

6. Withdrawal of appeal against prosecution launched for the offence.- If the company has filed any appeal against any notice issued for violation of the provisions under the Act in respect of which declaration is made under this Scheme, the declarant shall withdraw the appeal and furnish the proof of such withdrawal along with the declaration.

7. Order by designated authority granting immunity from the penalty and prosecution.- The designated authority shall consider the declaration and upon being satisfied shall pass an order in writing inter alia stating the reasons for granting the immunity.

8. Scheme not to apply to certain offence.- (1) This Scheme shall not apply to the filing of Form Number 5 relating to increase in authorised capital of the company for which specific interest has to be paid for filing the intimation for the delay and such other provisions of the Act where specific approval of the Company Law Board or Central Government is to be obtained :

Provided that the Scheme shall apply to such intimations which are to be submitted to Registrar of Companies alongwith a prescribed fees but for which no specific form has been specified.

(2) This Scheme shall also not apply for non-compliance of the provisions of the Act where the penalty of imprisonment only has been prescribed.

9. After passing the appropriate order, Registrar of Companies shall inform the concerned Court or Regional Director of Company Law Board before whom the matter for prosecution or compounding application is pending in appropriate cases.

FORM-A

Declaration Under Company Law Settlement Scheme, 2000

Form of Declaration

To

The Registrar of Companies,

Sir/ Madam,

I/We herewith make a declaration under the Company Law Settlement Scheme, 2000 and give below the following particulars, namely :

1. Name of the declarant and Address :

(in Block Letters)

2. Name of the Company :

3. Registration No. of Company :

4. Date of incorporation of the Company :

5. Address of the Company :

6. Status of the Company; whether public /private If public Listed/Non-listed

6. Business /objects of the Company :

(Tick in appropriate column)

(a) Manufacturing ....

(b) Trading ....

(c) Finance .....

(d) Service ....

(e) Others (please specify) ....

8. Statement of Declaration of non-compliance

Sl. No.

Nature of return to be filed

Section under which to be filed

Status of offence (whether still continuing).

9.

Sl. No.

 Nature of   document

  Due date of filing

Period of delay

Amount payable under Company Law Settlement Scheme, 200 (Rs.)

Details of payment

a) Demand Draft No.

b) Date

c) Name of Bank

d) Amount (Rs.)

Company Registration No. ..............

Signature of the Managing Director/Whole Time Director/Director/Manager/Company Secretary

10. Whether declarant on behalf of the company would like to be granted immunity for non-compliance?

11. Submission.- In light of the circumstances herein mentioned above and keeping in mind the admission of the offence by the applicant/ company and taking into consideration the nature, scope, extent, seriousness, gravity of the offence, the applicant/company, himself requests for the grant of immunity in the form of relief for non-compliance.

12. List of enclosures.

Place: .............

Date: .............

Designation/ Signature of the applicant

(SEAL OF DECLARANT)

VERIFICATION

I .............................son/daughter/wife of Shri.............. in my capacity as ...............in the company, solemnly declare that

(a) The information given in this declaration is true to the best of my knowledge and belief.

(b) The company had failed to comply with the provisions of the Companies Act, 1956 as mentioned above.

(c) I have withdrawn the appeals pending before Court/Company Law Board/Regional Director or other adjudicating authority.

I further declare that this declaration is in my capacity as the Managing Director/Director and that I am competent to make this declaration and verify it.

Place : .............

Date : .............

Designation/Signature of the applicant

(Seal of Declarent)

Certificate Granting Immunity From Penalty And Prosecution Under The Company Law Settlement Scheme, 2000

Whereas ...................(hereinafter referred to as the company) had made a declaration under the Company Law Settlement Scheme, 2000, and had filed the documents mentioned below along with the declaration and also paid the compounding fee of Rs ..........payable as per the said declaration :

Sl. No.

Nature of return to be filed

Section under which to be filed

Status of offence (whether still continuing).

And whereas the applicant has also declared that no petition or appeal before any Court/Company Law Board /Regional Director against any notice or order in respect of the fine payable has been filed by such applicant/had withdrawn such appeal/writ petition from the Court/Company Law Board/Regional Director.

Now, therefore, in exercise of the powers conferred under this Scheme, the undersigned hereby issues this certificate to the said company to :

(a) certify receipt of payment from the declarant towards full and final settlement of the compounded fee payable under this Scheme;

(b) grant immunity subject to the provisions contained in the scheme from instituting and proceeding for prosecution for any offence under the Companies Act, 1956 or from the imposition of penalty under the said enactment for the time being in force in respect of matters covered in the aforesaid declaration made by the declarant.

Date: & Place : .........

Designated Authority

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