Write short notes on the following :
The Company Law Board.
The Company Law Board.
Company Law Board is an independent quasi-judicial body constituted by the Central Government vide Notification No. 364 dated the 31st May, 1991. CLB has powers to regulate its own procedures. It has framed Company Law Board Regulations 1991 prescribing the procedure for filing the applications or petitions before it. The Central Government has also prescribed the fees for making applications or petitions before the Company Law Board, under the Company Law Board (Fees on applications and Petitions) Rules 1991. The Board has its Principal bench at New Delhi, and four Regional Benches located at New Delhi, Mumbai, Kolkata and Chennai.
According to Section 10F of the Companies Act, any person aggrieved by any decision or order passed by the Company Law Board may appeal to the High Court within 60 days from the date of communication of the decision or order to him.
Company Law Board is an independent quasi-judicial body constituted by the Central Government vide Notification No. 364 dated the 31st May, 1991. CLB has powers to regulate its own procedures. It has framed Company Law Board Regulations 1991 prescribing the procedure for filing the applications or petitions before it. The Central Government has also prescribed the fees for making applications or petitions before the Company Law Board, under the Company Law Board (Fees on applications and Petitions) Rules 1991. The Board has its Principal bench at New Delhi, and four Regional Benches located at New Delhi, Mumbai, Kolkata and Chennai.
According to Section 10F of the Companies Act, any person aggrieved by any decision or order passed by the Company Law Board may appeal to the High Court within 60 days from the date of communication of the decision or order to him.
