MINISTER OF LAW, JUSTICE & COMPANY AFFAIRS AND SHIPPING (SHRI ARUN JAITLEY)
(a) to (g) A statement is laid on the Table of the House.
STATEMENT REFERRED TO IN REPLY TO PARTS (a) TO (g) OF THE LOK SABHA STARRED QUESTION NO. 67- DUE FOR ANSWER ON 23.11.2000
(a) The Company Law Board is receiving the applications/complaints from the depositors of the Companies u/s 58A(9) of the Companies Act, 1956 and 45QA of the RBI Act, 1934 for non-payment of their deposits.
(b) Yes, Sir.
(c) The details of complaints/applications received, disposed of and pending during the last three years u/s 58A (9) of the Companies Act, 1956 and 45QA of the RBI Act, 1934 are given below :
Period Opening Receipts Total Disposed of Pending Balance
1997-98 1504 26718 28222 15437 12785
1998-99 12785 52368 65153 47319 17834
1999-2000 17834 58727 76561 63013 13548
(d) to (g) On the basis of applications received from the depositors, whenever the orders are passed by the Company Law Board under Section 45QA of the RBI Act, 1934 or under Section 58A (9) of the Companies Act, 1956, copies of the orders are forwarded to RBI and Registrar of Companies respectively. In case of non-compliance of order by the company, the prosecution is to be filed by an Officer of RBI under Section 58E of the RBI Act or by the Registrar of Companies under Section 621 of the Companies Act, 1956 respectively. To strengthen the machinery relating to the deposits of the small investors various steps are proposed in the Companies (Second Amendment) Bill, 1999 some of which relate to strengthening the Company Law Board also.
