CLB can allow further time to companies for repayment of deposits/interest in certain cases

Posted Date : 11-Jun-2014 , 09:15:50 am | Posted By CASANSAAR print

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MINISTRY OF CORPORATE AFFAIRS

ORDER

New Delhi, the 6th June, 2014

S.O. 1460(E).— In exercise of the powers conferred by sub-section (1) of Section 470 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following Order, namely:—

1. (1) This Order may be called the Companies (Removal of Difficulties) Fourth Order, 2014.

(2) It shall come into force from the date of notification in the Official Gazztte.

2. Jurisdiction, powers, authority and functions of Company Law Board.- Until a date is notified by the Central Government under sub-section (1) of Section 434 of the Companies Act, 2013 (18 of 2013), the Company Law Board constituted in pursuance of sub-section (1) of Section 10E of the Companies Act, 1956 (1 of 1956) shall exercise the jurisdiction, powers, authority and functions of the Tribunal under sub-section (2) of Section 74 of the said Act.

[F. No. 1/8/2013-CL-V ]

AMARDEEP SINGH BHATIA, Jt.Secy.

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