71. Application under proviso to clause (b) of sub-section (1) of section 51. – (l) An application for obtaining the approval of the Tribunal for the consolidation and division of all or any of the share capital into shares of a larger amount than its existing shares which results in changes in the voting percentage of shareholders shall be filed in Form No. NCLT. 1 and shall be accompanied by such documents as are mentioned in Annexure B. (2) The application shall, inter alia, set forth the following:- (3) The company shall at least fourteen days before the date of hearing (4) Where any objection of any person whose interest is likely to be affected by the proposed application has been received by the applicant, it shall serve a copy thereof to the 2[Regional Director], Registrar of Companies and the Securities Exchange Board of India, in the case of listed companies and to any regulator, if the company is regulated under any other Act on or before the date of hearing. (5) Upon hearing the application or any adjourned hearing thereof, the Tribunal may pass such order, subject to such terms and conditions, as it thinks fit.
Amendments 1. Substituted by NCLT Amendments Rules,2019 Dated 15.01.2019 In rule 71,sub rule(3),clause (b),for the words; Central Government the following words shall be susbtituted namely:- “Regional Director”
2. Substituted by NCLT Amendments Rules,2019 Dated 15.01.2019 In rule 71,sub rule(4) for the words; Central Government the following words shall be susbtituted namely:- “Regional Director” |