Rule 68: Petition under section 14

Rule 68: Petition under section 14 · Complied AI

(5)

On any application, the Tribunal, after hearing the applicant and any other person, as appears to it, to be interested in the application, may, if it is satisfied, having regard to all the circumstances of the case that the variation would unfairly prejudice to the shareholders of the class represented by the applicant, cancel the variation and shall, if not so satisfied, confirm the variation for reasons to be recorded:

Proviso

Provided that the Tribunal may, at its discretion, make such orders as to cost as it thinks fit.

Annexure B

LIST OF DOCUMENTS TO BE ATTACHED WITH A PETITION OR APPLICATION

S.No. Section of the Act Nature of Petition Enclosures to the Petition

1. Sec. 2 (41) Application for change in financial year 1.Copy of the memorandum and articles of association.

2. Copy of balance sheet of companies.

3. Affidavit verifying the petition.

4. Bank draft evidencing payment of application fee.

5. Memorandum of appearance with copy of the Board Resolution or the executed Vakalatnama, as the case may be.

2. Sec. 7 (7) Application to Tribunal where company has been incorporated by furnishing false or incorrect info or by any fraudulent action. 1. Copy of the memorandum and articles of association.

2. Document in proof of false or incorrect information or fraudulent action.

3. Affidavit verifying the petition.

4. Bank draft evidencing payment of application fee.

5. Memorandum of appearance with copy of the Board Resolution or the executed Vakalatnama, as the case may be.

3. Sec. 14 (1) Conversion of public company into a private company. 1.Copy of the memorandum and articles of association.

2. Copy of the documents showing that the company ceased to become a public

company.

3. Affidavit verifying the petition.

4. Bank draft evidencing payment of application fee.

5. Memorandum of appearance with copy of the Board Resolution or the executed Vakalatnama, as the case may be.

4. Sec. 55 (3) Application for issue further redeemable preference shares. 1. Copy of the memorandum and articles of association.

2. Documents showing the terms of issue of the existing preference shares.

3. Copy of the Board Resolution and resolution of general meeting for issue of further redeemable preference shares.

4. Copy of the latest audited balance sheet with the profit and loss account of the company with auditor’s report and director’s report.

5. Affidavit verifying the petition.

6. Bank draft evidencing payment of application fee.

7. Memorandum of appearance with copy of the Board Resolution or the executed Vakalatnama, as the case may be.

5. Sec. 58 (3) or 59 Appeal against refusal of registration of shares; or

Appeal for rectification of register of member. Where the company is the petitioner.

1. Copy of the memorandum and articles of association

2. Latest audited balance-sheet and profit and loss account, auditor’s report and director’s report.

3. Authenticated copy of the extract of the Register of Members.

4. Copy of the resolution of the Board or Committee of Directors (where applicable)

5. Any other relevant documents.

6. Affidavit verifying the petition.

7. Bank draft evidencing payment of application fee.

8. Memorandum of appearance with copy of the Board Resolution or the executed Vakalatnama, as the case may be.

9. Two extra copies of the petition. Where the petition is made by any other person.

1. Documentary evidence in support of the statements made in the petition including the copy of the letter written by the petitioner to the company for purpose of registering the transfer of, or the transmission of the right to, any share, or interest in, or debentures as also a copy of the letter of refusal of the company.

2. Copies of the documents returned by the company.

3. Any other relevant document.

4. Affidavit verifying the petition.

5. Bank draft evidencing payment of application fee.

6. Memorandum of appearance with copy of the Board’s Resolution or the executed Vakalatnama, as the case may be.

7. Two extra copies of the petition.

6. Sec. 61 (1) Application to Tribunal for consolidation and division of share capital. 1. Copies of memorandum and articles of association;

2. Copies of audited balance sheets for past 3 years;

3. Resolution for allowing such consolidation or division and providing justification for the same;

4. Documents in proof of new capital structure and class of shares being consolidated or divided;

5. Affidavit verifying the petition.

6. Bank draft evidencing payment of application fee.

7. Memorandum of appearance with copy of the Board’s Resolution or the executed Vakalatnama, as the case may be.

8. Two extra copies of the application

9. Any other relevant documents.

Notes, amendments & references (63)

7. Sec. 73 (4) Application by deposition (substituted vide NCLT Amendment Rules,2016) depositor for

repayment of deposit or

interest. 1. Copy of the deposit receipt

2. Copy of the correspondence exchanged with the company.

3. Bank draft evidencing payment of application fee.

4. Any other relevant document.

8. Sec. 74 (2) Application to allow further time as considered reasonable to the company to repay deposits. 1. Names and addresses of the officers of the company.

2. Full details of small (omitted vide NCLT Amendment Rules,2016) depositors such as names, addresses, amount of deposits, rate of interest, dates of maturity and other terms and conditions of deposits.

3. Reasons for nonpayment or late payment.

4. Annual Reports for the last three years.

5. Projection and cash flow statement for the next three financial years duly certified by Statutory Auditors of the company.

6. Any other relevant document

9. Sec. 97 (1) Application for calling of

Annual General meeting. 1. Affidavit verifying the petition.

2. Bank draft evidencing payment of application fee.

3. Any other relevant document.

10. Sec. 98 (1) Application for calling of

general meeting of company other than annual general meeting 1. Documentary evidence in proof of status of the applicant.

2. Affidavit verifying the petition.

4. Memorandum of appearance with copy of the Board’s Resolution or the executed Vakalatnama, as the case may be.

5. Any other relevant document

11. Sec. 119 (4) Petition to pass an order

directing immediate inspection of minutes books or directing a

copy thereof be sent forthwith to person requiring it. 1. Documentary evidence, if any, showing the refusal of the company to give inspection to the petitioner.

3. Bank draftevidencing payment of application fee.

5. Any other relevant document.

12. Sec. 131 (1) Application by company for

voluntary revision of financial

statement on Board's report. 1. Audited Financial statements of relevant period;

2. Copies of memorandum and articles of association.

3. The details of the Managing Director,

Chief Financial Officer, directors, Company Secretary and officer of the company responsible for making and maintaining such

books of accounts and financial statement.

3. Where such accounts are audited, documents in proof of the name and contact details of the auditor or any former auditor who audited such accounts.

4. Copy of the Board resolution passed by

the Board of Directors.

5. Affidavit verifying the petition.

6. Bank draft evidencing payment of application fee.

7. Memorandum of appearance with copy of the Board’s Resolution or the executed Vakalatnama, as the case may be.

8. Any other relevant document.

12. A

(Inserted vide NCLT Amendment Rules,2020 dated 03.02.2020) Sec 230 (12) Application in cases of

takeover offer of companies which are not listed. 1. Affidavit verifying the petition

2. Memorandum of appearance with copy of the Board's Resolution or the executed vakalatnama, as the case may be.

3. Documents in support of the grievance against the takeover.

4. Any other relevant

document.

13. (Inserted vide NCLT Amendment Rules,2016) - Wherever no document is prescribed to be attached with the application or petition, documents as mentioned in next column may be attached, as applicable. 1. Document and/or other evidence in support of the statement made in the application or

appeal or petition, as are reasonably open to the petitioner(s);

2. Documentary evidence in proof of the eligibility and status of the petitioner(s) with the voting power held by each of them, wherever applicable;

3. Where the petition is presented on behalf of members, the letter of consent given by them, if applicable;

4. Statement of particulars, showing names, address, number of shares held, and whether all calls and other monies due on shares have been paid in respect of members who have given consent to the petition being presented on their behalf;

5. Where the petition is presented by a member or members authorised by the Central Government, the order of the Central Government authorising the officer(s) or member or members to present the petition shall be similarly annexed to the petition;

6. Affidavit verifying the petition;

7. Evidence regarding payment of fee;

8. Memorandum of appearance with copy of the Board Resolution or the vakalatnama, as the case may be;

9. Three copies of the petition; and

10. Any other documents in support of the case.

Annexure B. To view the annexure scroll below.

To view the return, Click Here

68A. Application to cancel variation of rights under sub-section (2) of section 48.- Inserted vide National Company Law Tribunal (Amendment) Rules, 2016 notification dated 20.12.2016, 2016. To view the notification, Click Here

To view the form, Click Here

LIST OF DOCUMENTS TO BE ATTACHED WITH A PETITION OR APPLICATION Amended vide National Company Law Tribunal (Amendment) Rules, 2016 notification dated 20.12.2016, 2016. To view the notification, Click Here