Company Law Board

Company Law Board

The Company Law Board is an independent quasi-judicial body in India which has powers to overlook the behaviour of companies within the Company Law. It was constituted in its present form on May 31, 1991.Under Section 10E of the Companies Act, 1956 replacing the erstwhile Company Law Board which was primarily as a delegatee of the Central government since 1.2.1964. The Company Law Board has framed Company Law Board Regulations 1991 wherein all the procedure for filing the applications/petitions before the Company Law Board has been prescribed. The Central Government has also prescribed the fees for making applications/petitions before the Company Law Board under the Company Law Board (Fees on applications and Petitions) Rules 1991.

The Board has its Regional Benches at Mumbai, Calcutta, Chennai & New Delhi besides the Principal Bench at New Delhi. The matters falling under section 247, 250, 269, and 388B are dealt with by the Principal Bench at New Delhi. The Regional Benches are mainly concerned with petitions/applications under sections 17, 18, 19, 58A(9), 58AA(1), 79/80A, 111,111A, 113/113(3), 117, 117C, 118(3), 141, 144(4), 163, 167, 186, 196, 219/219(4), 235, 237(b), 269, 284, 284(4), 304, 307, 408, 409, 614, 621A, 634A, of the Companies Act, 1956 and matters falling under Chapter VI of Part VI of the Companies Act, 1956 and Section 45QA of the Reserve Bank of India Act, 1934. The matters falling under section 45QA of the Reserve Bank of India Act, which were earlier within the purview of the RBI, have now been entrusted to the Company Law Board. The Central Government have accordingly amended RBI Act giving powers to the Company Law Board to deal with the applications filed by the aggrieved depositors of Non-Banking Financial Companies (NBFCs) under section 45QA of the RBI Act, 1934.



Wikimedia Foundation. 2010.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • United Kingdom company law — Beside the River Thames, the City of London is a global financial centre. Within the Square Mile, the London Stock Exchange lies at the heart of the United Kingdom s corporations. United Kingdom company law is the body of rules that concern… …   Wikipedia

  • Draft Fifth Company Law Directive — The Draft Fifth Company Law Directive (1972–1988) is a European Union proposal for a Directive, primarily aimed to implement a right of employees to vote for the boards of directors in large companies. The Directive went through 3 major revisions …   Wikipedia

  • Report of the Committee on Company Law Amendment — The Report of the Committee on Company Law Amendment (1945) Cm 6659, known best as the Cohen Report for short, was a company law reform committee appointed by the United Kingdom Coalition Government, during the Second World War. It was chaired by …   Wikipedia

  • board of directors — often cap B&D: a group of individuals elected by the shareholders of a corporation to manage the corporation s business and appoint its officers Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. board of directors …   Law dictionary

  • company — com·pa·ny n pl nies: an association of persons for carrying on a commercial or industrial enterprise compare corporation, partnership finance company: a company that makes usu. small short term loans to individuals growth company: a company that… …   Law dictionary

  • board observer — USA An individual who is permitted to attend and participate in meetings of the board of directors and to receive all information provided to members of the board (including minutes of board meetings), but who is not permitted to formally vote on …   Law dictionary

  • board meeting — a meeting of the board of directors of a company at which the policy of the company and major decisions as to its future actions are discussed. It is decisions of the board that decide or ratify action taken or to be taken on behalf of the… …   Law dictionary

  • board authorisation — Under a company s Articles of Association or other internal company rules, a company director or employee may be required to obtain delegated authority by means of a formal Board resolution in order to carry out activities on behalf of the… …   Law dictionary

  • Board of Governors — Federal Reserve Board (FRB), also known as Board of Governors and Federal Reserve Board of Governors USA A federal government agency that: • Supervises and regulates the Federal …   Law dictionary

  • Company and Securities Law Journal —   Abbreviated title (ISO) Co. secur. law j. Discipline …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”