Circular
No. 11/2013, File No. 17/118/2012 CL V, dated 29th May 2013
Power of
ROCs to obtain Declaration/Affidavits from Subscribers/First Directors at the
time of Incorporation
To,
All Regional Directors,
All Registrar of Companies
The matter of
protection of interest of investors, including depositors, is very important to
ensure healthy corporate capital market environment in the country. The recent
instances of raising of monies by companies in a manner which is
opaque/convoluted, non-accountable and which does not protect interests of
depositors have been taken note of by the Ministry seriously.
Keeping in view
the need to protect the interest of investors and ensure that companies raise
monies in accordance with the provisions of the Companies Act/Deposit Rules, it
is clarified that in exercise of the powers under the Companies Act, the
Registrar of Companies may obtain declaration/affidavits from subscribers/first
directors first at the time of incorporation and from directors, subsequently
whenever company changes its objects, to the effect that company/directors
shall not accept deposits unless compliance with the applicable provisions of
Companies Act, 1956, RBI Act, 1934 and SEBI Act, 1992 and rules/directions/regulations
made thereunder are duly complied and filed with the concerned authorities.
0 comments:
Post a Comment