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Company Law Board
The Company Law Board is an autonomous quasi legal body in India with powers to look after the working of companies in India within gambit of the Company Law. It was formed in 1991 on 31st of May as per the 1996 Company Act by replacing the earlier Board of Company Law which existed since 1964 and worked as a delegate on behalf of Government of India. The new Board has formed the rules and regulations for the Company Law Board which underlines the entire procedure for filing applications and petitions before the Company Law Board. The Central Government has also set the fees for making applications and petitions before the Company Law Board as per the Company Law Board Rules 1991.
The Company Law Board has established judicial benches in different parts of the country. The Principal Bench is situated in New Delhi and deals with all matters coming under sections 247, 250, 269 and 388B. The other benches are located in Mumbai, Calcutta, Chennai and New Delhi. Every bench has the jurisdiction of hearing the cases of a specific region. These benches are called regional benches and are mainly concerned for hearing the applications and petitions falling under other sections of the Company Act 1956 and section 45QA of the RBI Act 1934. Earlier the cases under section 45QA of the RBI Act were heard by the Reserve Bank of India but now the jurisdiction of such cases has been transferred to the judicial benches of Company Law Board. For this the government has amended the RBI Act and given powers to the Company Law Board to hear the case affecting the NFBCs.
As per section 10F of the Companies Act, any person not satisfied by the decision of the Board can file an appeal in High Court within sixty days from the date of decision.
Regional Benches and their Respective Jurisdiction
- Company Law Board, New Delhi Bench, 3rd Floor, B- Block, Paryavaran Bhawan, C.G.O. Complex, Lodhi Road, New Delhi-110003.States of Haryana, Himachal Pradesh, Jammu & Kashmir, Punjab, Rajasthan, Uttar Pradesh, Uttaranchal and Union Territory of Delhi and Chandigarh
- Company Law Board, Mumbai Bench, NTC House, Narottam Morarjee Marg, Ballard Estate, Mumbai- 400 038.States of Goa, Gujarat, Madhya Pradesh, Maharashtra, Chhattisgarh and Union Territories of Dadra and Nagar Haveli and Daman and Diu
- Company Law Board, Kolkata Bench, 9, Old Post Office Street, Kolkata.The States of Arunachal Pradesh, Assam, Bihar, Manipur, Meghalaya, Nagaland, Orissa, Sikkim, Tripura, West Bengal, Jharkhand and Union Territories of Andaman and Nicobar Island and Mizoram
- Company Law Board, Chennai Bench, Corporate Bhawan (UTI Building), 3rd Floor, No. 29, Rajaji Salai, Chennai- 600 001.The states of Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Union Territories of Pondicherry and Lakshadweep Islands
- Company Law Board, Principal Bench, Paryavaran Bhawan, B-Block, 3rd Floor, C.G.O. Complex, Lodhi Road, New Delhi – 110 003All States & Union Territories
Board Members
- Justice D. R. Deshmukh, Chairman, Company Law Board.
- Vimla Yadav, Member, Company Law Board, Mumbai.
- Kanthi Narahari, Member, Company Law Board, Chennai.
- B.S.V. Prakash Kumar, Member, Company Law Board, New Delhi.
- Amlesh Bandhopadhyay, Member, Company Law Board, Kolkata.
- Dhan Raj, Member, Company Law Board, New Delhi.
- A.K. Tripathi, Member, Company Law Board, Mumbai.
R. Vasudevan, Member, Company Law Board, New Delhi (under Suspension)