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Company Law Board Regulations, 1991

36. Petition under section 17

1.     The company shall, not less than one month before filing any petition under section (2)of section 17,-

              i.        publish a general notice, at least once, in the district in a daily newspaper published in English and in the Principal language of that district in which the registered office of the company is situated and circulating in that district clearly indicating the substance of the petition and stating that any person whose interest is likely to be affected by the proposed alteration of the Memorandum may intimate to the Bench Officer within twenty-one days of the date of publication of that notice, the nature of interest and grounds of opposition; and

             ii.        serve, by certificate of posting, individual notice(s)to the effect set out in clause(i)above on each debenture-holder and creditor of the company, unless otherwise required by the Bench to be sent by registered post.

2.     Where the petition seeks to change the registered office of the petitioner-company from one State to another, a notice together with the copy of the petition shall also be served by registered post on the Chief Secretary to the Government of the State in which the registered office of the petitioner-company is situate, or, where the registered office of the company is situated in a Union Territory, to the Administrator/Lt. Governor of the Union Territory.

3.     Any person intending to oppose the petition shall within twenty-one days from the date of service or publication of the notice, as the case may be, deliver, or cause to be delivered, or send by registered post, the objections supported by an affidavit, in original, to the Bench Officer and shall serve a copy of the objections on the petitioner-company at its registered office.

4.     If default is made in complying with any provision of sub-regulation (3), the person concerned shall be deemed to have consented to the alteration proposed in the petition.

Provided that the Bench, may, if it thinks fit, even after the final hearing permit any person to file objections after giving notice to the petitioner-company.

5.     The petitioner-company shall prove the despatch, publication and service of notice(s)by an affidavit and such affidavit shall be enclosed with the petition.

6.     A petition under section 17 shall invariably contain information relating to the number of creditors and the total amount due to them up to the latest practicable date proceeding the date of filing of the petition and, in any case, the date to which the list referred to in sub-regulation (8)is made up, shall not precede the date f filing the petition by more than two months. A list of creditors and debenture-holders shall also be filed along with the petition

7.     The Secretary of the petitioner-company if any, and not less than two directors of the company, one of whom shall be a managing director, where there is one, shall file an affidavit to the effect that they have made a full enquiry into the affairs of the company and, having done so, have formed the opinion that the list referred to in sub-regulation (8)is correct, that the estimated value as given in the list of the debts or claims payable on a contingency or not ascertained are proper estimates of the values of such debts and claims included in the list are borne out by the books and records of the company and that there are no other debts of, or claims against, the company to their knowledge.

8.     Duly authenticated copy of the list of creditors and debenture-holders showing their names, addresses and the amounts due to each of them shall be kept at the registered office of the company and any person desirous of inspecting the same may, at any time, during the ordinary hours of business, inspect and take extracts from the same on payment of rupees ten to the company.

9.     Where no objection has been received from any of the parties, who have been duly served, the Bench Officer may put up the petition for orders without hearing.

10.  Omitted by ibid.

Company Law Board Regulations, 1991 Back

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