PART –VIII
MISCELLEANEOUS
52 Miscelleaneous
(1) Fees to be credited to the Central Government-
In every winding-up where the Official Liquidator becomes or acts as Liquidator, there shall be paid into the public account of India in the Reserve Bank of India to the credit of the Central Government, from out of the assets of the company in liquidation, the fees determined in accordance with the following provisions :-
(i) Where a winding-up order is made and the Official Liquidator acts as liquidator of a company.
(a) Upon the total assets, including produce of calls on contributories, interest on investments and rents from properties, realised or brought to credit by the Official Liquidator, after deducting sums on which fees are chargeable under paragraphs (3) and (4) below and the amount spent out of the money received in carrying on the business of the company, upon each year s collections.
On the first Rs. 10,000 or fraction thereof ... 3 per cent.
On the next Rs. 40,000 or fraction thereof ... 2 per cent.
On the next Rs. 50,000 or fraction thereof ... 1 per cent.
Above Rs. 1,00,000 ... 3/4 per cent.
(b) On the total amount distributed in dividend or paid to contributories, preferential creditors, and debenture-holders by the Official Liquidator, half the above percentages.
(ii) Where the Official Liquidator collects, calls or realises property for debenture-holders.
The same scale of fees as under paragraph (i) to be paid out of the proceeds of such calls or property.
(iii) Where the Official Liquidator realises property for secured creditors other than debenture-holders.
On the amount realised for each secured creditor.-
On the first Rs. 10,000 or fraction thereof 4 per cent.
On the next Rs. 40,000 or fraction thereof 2 1/2 per cent.
On the next Rs. 50,000 or fraction thereof 2 per cent.
Above Rs. 1, 00,000 1 1/2 per cent.
(iv) When the Official Liquidator acts as trustee, under a scheme of arrangement, such fees not exceeding the scale of fees under paragraph (i) above, as the Tribunal shall allow.
(v) When the Official Liquidator performs any special duties not provided for above such fees as the Tribunal may fix on the application of the Official Liquidator, in addition to any other fees payable.
(vi) Where the Tribunal has sanctioned the reconstruction of the company under liquidation or a scheme of arrangement of its affairs, or where for any reason the Tribunal is of the opinion that the fees prescribed in above paragraphs would be excessive, such reduction may be made in the said fees as the Tribunal thinks fit.
(vi) When the Official Liquidator acts in any other capacity Tribunal may fix the fees.
(2) Inspection of file-
(i) Every duly authorised officer of the Central Government and, save as otherwise provided by these Rules, every person who has been a director or officer of a company which is being wound-up, shall be entitled, free of charge, at all reasonable times to inspect the file of proceedings of the liquidation and to take copies or extracts from any document therein, and, on payment of the prescribed charges, to be furnished with such copies or extracts.
(ii) Save as otherwise provided by these Rules, every contributory and every creditor whose claim or proof has been admitted, shall be entitled, on payment of the prescribed charges, at all reasonable times to inspect the file of proceedings and to be furnished with copies and extracts from any document therein.
(3). Transfer of proceedings-
(i) All proceedings under the Companies Act, 1956 (1 of 1956) relating to winding up of companies, pending before District Court or High Court shall stand transferred to the Tribunal and the Tribunal may proceed to deal with such cases after the stage, the cases has already been proceeded.
(ii) In all winding up proceedings under the Companies Act, 1956 pending immediately before any District Court or High Court, on transfer to Tribunal under clause ( c ) of sub section (1) of section 434 of the Act, Official Liquidator shall continue as Company Liquidator or Provisional Liquidator, wherever Official Liquidator has been appointed as Liquidator or Provisional Liquidator.
(4). Saving of Rules under Special Acts-
(i) Nothing in these rules shall affect the operation of any rules framed under the Banking Companies Act, 1949 or the Insurance Act, 1938, or other Special Acts relating to any class of companies and these Rules shall apply to such Companies subject to the Rules, if any, made under the special Acts.
(ii) Companies (Court) Rules 1959 stand repealed except to the extent to which those rules are required to be pursued for the effective conclusion of the respective proceedings and where these rules or National Company Law Tribunal Rules 2013 do not answer in respect of the transfer proceedings with regard to the matters earlier dealt by the District Court or High Court.
. (5). Applicability of National Company Law Tribunal Rules, 2013: -
Save as otherwise provided in these rules, National Company Law Tribunal Rules, 2013, shall apply to the circumstances in which these rules do not specifically provide or elaborate in relation to any matter.
(6). Appeal from order of Tribunal to National Company Law Appellate Tribunal
Any aggrieved person may prefer an appeal against the order or decision of the Tribunal to the National Company Law Appellate Tribunal within in the period of 45 days from the date on which the copy of order is delivered in such manner as may be provided by that Appellate Tribunal.
Provided that the Appellate Tribunal may entertain an appeal after the expiry of the said period of 45 days from the date aforesaid, but within a further period not exceeding 45 days, if it is satisfied that appellant was prevented by the sufficient cause from filing the appeal within that period.
(ii) Any order on appeal in relation to the winding up shall be intimated to the company Liquidator or Official Liquidator or Provisional Liquidator as the case may be within 15 days of such order and any order staying the winding up shall be filed with the Registrar of Companies within 15 days of the such order with prescribed filing fees. Forms shall be Form No 12 and 13 respectively. |