Guideline for Fair Valuation of shares to be issued under ESOP & Sweat Equity

Dear All,

Income Tax Department, Ministry of Finance has come out with guideline for valuation of shares to be issued under the ESOP Scheme and Sweat equity route vide Notification No. 264/2007, dated 23-10-2007.

According to this notification, the fair market value of any specified security or sweat equity share, being an equity share in a company, on the date on which the option vests with the employee, shall be determined as follows.

In the case of Listed Company:

On the date of the vesting of the option, the share in the company is listed on a recognized stock exchange, the fair market value shall be the average of the opening price and closing price of the share on that date on the said stock exchange:

Provided that where, on the date of vesting of the option, the share is listed on more than one recognized stock exchanges, the fair market value shall be the average of opening price and closing price of the share on the recognised stock exchange which records the highest volume of trading in the share:

Provided further that where, on the date of vesting of the option, there is no trading in the share on any recognized stock exchange, the fair market value shall be -

(a) the closing price of the share on any recognised stock exchange on a date closest to the date of vesting of the option and immediately preceding such date; or

(b) the closing price of the share on a recognised stock exchange, which records the highest volume of trading in such share, if the closing price, as on the date closest to the date of vesting of the option and immediately preceding such date, is recorded on more than one recognized stock exchange.

In the case of Unlisted Company:

In a case where, on the date of vesting of the option, the share in the company is not listed on a recognized stock exchange, the fair market value shall be such value of the share in the company as determined by category I merchant banker on the specified date.

Unlisted Companies ESOP Scheme is subject to compliance of ESOP IT Notification issued in the year 2001; Click here for the same - http://www.box.net/shared/p16eyrbkrl

Also you can access relevant notification on below link;

fn=/DitTaxmann/Notifications/IncomeTaxAct/2007/Notif264_2007.htm

your views are solicited on this guideline.

Thanks & Regards

Alagar

CLB qualification rules & 51 Public Financial Institution

"8^th October 2007 is today"

Credits to Dr. KS Ravichandran

The Gazette of India G.S.R. 588(E) - Company Law Board (Qualifications, Experience and other Conditions of Service of Members) Amendment Rules, 2007 .

8. Term of office of Chairman, Vice-Chairman and Members.—Except as provided in rule 6 or 7, the Chairman shall hold office till he attains the age of sixty-seven years (the then 65 yrs); the Vice-Chairman shall hold office till he attains the age of sixty-five years (the then 62 yrs)and any other member shall hold office till he attains the age of sixty-two years (the then 60 yrs).

The Gazette of India S.O. 1583(E) - Notification under powers conferred by sub-section (2) of Section 4A of the Companies Act, 1956 .

Now, Tamilnadu Urban Finance & Infrastructure Development Corporation Limited and Kerala Power Finance Corporation Limited is added to the list thereby increasing the count to 51 institutions.

Press Release: 2007-2008/473 - check here, http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx

Misuse of banknotes

It has been brought to the Bank's notice that members of public, institutions and others continue to write messages etc. on the watermark window and deface the portraits etc. on the banknotes. The Bank wishes to reiterate that such practices work against the Clean Note Policy of the Bank. All members of public, institutions and others are, therefore, advised not to write/inscribe anything whatsoever on the banknotes

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Demerger/Non Compete Clause Case

Ashim Investment Co. Ltd.,

Where in view of demerger scheme, subsidiary companies of transferor-company, personally holding equity shares in transferee-company would be entitled to allotment of further equity shares in transferee-company, it would not amount to violation of Section 42; as Section 42(3) provides an exception to general rule and permits a subsidiary company to continue as member of holding company.

"42(3) This section shall not prevent a subsidiary from continuing to be a member of its holding company if it was a member thereof either at the commence­ment of this Act or before becoming a subsidiary of the holding company, but except in the cases referred to in sub-section (2), the subsidiary shall have no right to vote at meetings of the holding company or of any class of members thereof".

Held that Section 42 provides that a subsidiary company cannot hold shares or be a member of its holding company. Section 42(3) provides an exception to general rule and permits a subsidiary company to continue as member of holding company. Existing shareholding of the subsidiary company in the holding company will be protected under section 42(3), but the subsidiary companies will not have any voting rights.

Non Compete Clause

Supreme Court in Gujarat Bottling Co. Ltd v. Coca Cola, HELD that any NEGATIVE COVENANT in an agreement which was operative during the SUBSISTENCE of a contract was VALID but such negative covenant in an agreement which were purported to be made operative AFTER the expiry of the agreement were VOID being restrictive of trade under Section 27 of The Indian Contract Act, 1872.

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General Circular No. 13/2007 Dated 27/09/2007 - Section 141 of the Companies Act, 1956 regarding extension of time for filing documents by companies and levy of additional fee

The final position is http://yehseeyes.blogspot.com/2008/07/companies-acte-form-8-within-30-days-of.html

The Hon'ble Company Law Board has allowed the petition and passed an order dated 1.8.2007 which is re-produced as follow:

"The Central Government, through the Secretary, Ministry of Corporate Affairs, has filed this instant application under Section 141 of the Companies Act, 1956 seeking for directions of this Board to permit Registrars of Companies to condone the delay beyond the prescribed period of 60 days and 30 days from the date of registration/modification and satisfaction of charges respectively. I heard the representatives of the Central Government. Presently, the power to condone delay rests with this Board in terms of Section 141 of the Act. Even though, this power has been sought to be conferred on the Central Government by the Companies (Second Amendment) Act, 2002, the same has not been notified due to pendency of proceedings before the Supreme Court. The power exercised by this Board under Section 141 is purely procedural and very rarely any adjudicatory issue arises. In other words, there has been hardly any legal issue requiring application of mind is involved in disposal of the applications under Section 141. Taking this aspect into consideration and also the fact that a lot of time, efforts and money are involved in prosecuting an application under Section 141, I find justification in the application of the Central Government. Accordingly it is directed as follows:

(1) In cases where there are no disputes, the Central Government is authorised to accept registration/modification/satisfaction of charge up to a period of 300 days from the dates of events.

(2) Additional fees as prescribed in terms of Section 611(2) of the Act shall be levied for the delay beyond 30 days. The Central Government shall notify a slab system of levying additional fee up to 300 days.

(3) Since the very purpose of the application is to avoid time and efforts, the Central Government may ensusre that MCA-21 system accepts the documents on payment of additional fees so that physical approach to ROC for registration can be avoided.

(4) These directions will be effective from a date to be notified by the Central Government.

(5) All the applications pending with the Company Law Board as on the date of Notification by the Central Government shall be disposed of by the respective Regional Benches as hereto before.

(6) However the present system of filing applications before the Company Law Board in terms of Section 141 will continue in respect of:

a. where the delay is beyond 300 days from the dates of events;

b. Rectification of register of charges; and

c. when documents are sought to be filed by the lenders.

(7) The Central Government shall send a copy of this order to all Regional Directors/Registrars of Companies and Regional Benches of the Company Law Board."

Pursuant to the order dated 01.08.2007 passed by the Company Law Board as reproduced above, following decisions have been taken for implementation of the said order:-

(i) The aforesaid order shall take effect from the 27th October, 2007.

(ii) Documents under the defined categories for registration/ modification/ satisfaction of charge, excepting those mentioned under Para 6 of the order, shall be accepted for filing under MCA 21 system up to 300 days from the event date with effect from 27 ^th October,2007.

(iii) The Registrar of Companies shall register the documents so filed in cases where: (a) there are no disputes and (b) there is an omission in filing of the particulars or the registration/ modification of the charge or in giving of intimation of payment or satisfaction thereof within a period of 60 days and 30 days respectively, up to a period not exceeding 300 days from the date of event by levying additional fee prescribed in section 611(2) i.e. not exceeding ten times the amount of fee specified in Schedule X.

(iv) All applications pending with the Company Law Board, prior to the effective date i.e. the 27^th of October, 2007 for extension of time in omission of filing of the particulars or the registration/ modification of the charge or for the giving of intimation of payment or satisfaction thereof within a period of 60 days and 30 days respectively, shall be disposed of by the respective Regional Benches as hereto before.

(v) Documents filed on the portal (www.mca.gov.in), prior to the effective date i.e. the 27^th of October, 2007 for registration /modification of the charge or for the giving of intimation of payment or satisfaction thereof after a period of 60 days and 30 days respectively, shall not be registered by the concerned Registrar until the delay is condoned by the respective Regional Benches as hereto before.

(vi) The present system of filing applications before the Company Law Board in terms of Section 141 shall continue in respect of all other matters except for extension of time in omission of filing of the particulars of the registration/ modification of the charge or for the giving of intimation of payment or satisfaction thereof up to a period not exceeding 300 days from the date of event.

(vii) The slab system for levy of additional fees, pursuant to para (2) of the order of the CLB referred to above, in terms of section 611(2) shall be as per Ministry's Press note No.2 dated 21-3-1995 as may be amended from time to time.

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Amendment - Companies Act - Extention of 300 Days for registeration of Creation / Statisfaction of Charge U/s 125/138

Dear All,

The final position is http://yehseeyes.blogspot.com/2008/07/companies-acte-form-8-within-30-days-of.html

As we all know that in the case of creation of charge as per Section 125 of the Companies Act, 1956 we need to register a charge within 30 days next immediately following the expiry of the initial period of 30 days on payment of additional fee in terms of Section 611(2). The same provisions are applicable to the modification of charges under Section 135. However, in the case of satisfaction the facility of extension of period of 30 days is not available to the Registrar for the registration of satisfaction of charges under Section 138 of the Act.

The powers to condone the delay and grant extension for filing these documents beyond a period of 60 days or 30 days, as the case may be, vest in the Company Law Board (CLB) in terms of provisions contained in Section 141 of the Act.

It was observed with the implementation of e filing under MCA-21 e-governance programme that a large number of applications are required to be filed with the CLB for condonation of delay beyond the period of 60 days.

In consideration of the time and costs involved in pursuing these applications with the CLB, the Ministry of Corporate Affairs filed a petition before the CLB seeking appropriate directions to allow the Central Government to extend the time, in cases where filing of the particulars or the registration/ modification of the charge or the intimation of payment or satisfaction thereof does not take place within a period of 60 days and 30 days respectively, up to a period not exceeding 300 days from the date of event, on levy of additional fee prescribed under section 611(2).

The Hon'ble Company Law Board has allowed the petition and passed an order dated 1.8.2007.

Also find attached relevant circular issued by Ministry of Corporate Affairs for your perusal.

Thanks & Regards

Alagar

09884731993

2 more Public Financial Institution

NOTIFICATION No. s.o. 1583 (E) dated 20-9-2007

In exercise of the powers conferred by sub-section (2) of section 4A of the Companies Act, 1956 (1 of 1956), the Central Government hereby specifies the following institutions to be public financial institutions and for that purpose makes the following further amendment in the Notification of the Government of India, published in the Gazette of India dated the 13th May, 1978 in Part II, section 3, sub-section (ii), in the erstwhile Ministry of Law, Justice and Company Affairs (Department of Company Affairs) vide number S.O. 1329 dated the 8th May, 1978, namely:--

In the said notification, after serial number 49, the following serial numbers and entries relating thereto shall be added, namely:--

''50. Tamil Nadu Urban Finance and Infrastructure Development Corporation Limited.

51. Kerala Power Finance Corporation Limited."

[F. No. 3/3/2004/CL.V]

Credits to CSMysore

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CoAct Checklist as from CoolCS group - Vj

 

Due Dates / Time Limit for Filing Documents (1)

 

Section No.	Form No.	Description	Time limits for filing
33(2)	1	Declaration of Compliance with the requirements of the Companies Act,1956 on application for Registration of a Company	It should be submitted  before incorporation of the co. or within 6 months of the availability of the name of the Company.
20	1A	Application form for availability of names.	There is no time limit,  this form can be filed at any time.
(g)	1AA	Particulars of person(s)/ director(s)  specified for the purpose of clause (f)/(g) of Section 5.	Within 30 days from the date of exercise of powers of the Board.
5(f)	1AB	Consent of the person charged by the board with the responsibility of complying with the provisions of the Act	To be filed alongwith Form No. 1-AA, within 30 days from the date when the Board of Directors takes the decision to make the person responsible under proviso to Section 5(f) of the Act.
5(f)/(g)	1AC	Particulars of  person(s) /director(s) specified for the purpose of clause (f)/(g) of section 5.	To be submitted within 30 days of revocation or withdrawal of consent given by the person u/s 5(f).
31(1)	1B	Application for the Approval of the Central Government for conversion of a Public Company into a Private Company.	Within three months from the date when the special resolution has been passed in this regard.
75(1)	2	Return of Allotment	Return must be submitted within 30 days of allotment, or within such extended time as allowed by ROC against an application under section 75(3) made to ROC for such extension.

 

 

Due Dates / Time Limit for Filing Documents (2)

 

Section No.			Form No.	Description	Time limits for filing
56(3)			2A	Memorandum containing salient features of prospectus	Every application form is to be accompanied with the Memorandum containing salient features of abridged prospectus, as and when they are issued.
58A(11) & 109A			2B	Nomination of Form	Can be filed at any time by the shareholder, debenture-holder or holder of fixed deposits.
75(2)			3	Particulars of Contract Relating to shares	The Return has to be submitted within 30 days of allotment, or within such extended time that may be allowed by the Registrar of Companies on an application made to him under section 75(3).
76			4	Statement of the Amount of Rate per cent of the Commission payable in respect of Shares/Debentures and of the number of Shares/Debentures for which person have agreed for a Commission to subscribe for absolutely or conditionally	Return should be submitted before payment of commission, at the time of delivery of prospectus or the statement in lieu of prospectus for registration.
77A(6)			4A	Declaration of solvency before buying-back of shares/other securities but after passing of the Special Resolution under section 77A(6)	Declaration should be filed any time before making buy-back of shares, but only after such buy-back has been authorised by passing a special resolution.
77A(9)			4B	Maintaining Register of Securities brought back under section 77A(9)	Immediately after buying back its securities, the details given in Form No. 4B has to be entered in the said Register by a company.
77A(10)			4C	Returns containing particulars relating to the buy back under section 77A(10)	The return is to be submitted within 30 days from the date of completion of buy-back of securities.
Due Dates / Time Limit for Filing Documents (3)

 

Section No.	Form No.	Description	Time limits for filing
95/97/94A(2)/ 81(4)	5	Notice of Consolidation, Division under section 95.	Within 30 days of passing of the resolution in this behalf.
94	5	Notice of Increase in Share Capital under section 94.	Within 30 days of increase in share capital.
97	5	Notice of increase in number of members under section 97.	Within 30 days of increase in number of members.
108(1A)	7B	Share Transfer Form	Forms have to be submitted before execution to the prescribed authority. In case of shares dealt with or quoted on the recognised Stock Exchange, it has to be submitted at any time before the date on which register of members is closed according to the law, for the first time after the date of presentation to the prescribed authority. In other cases, it has to be submitted within two months from the date of presentation.
108(1A) and Rule 5A(2A)	7BB	Counter Receipt and Share Transfer Form. Filling of Instrument of transfer in respect of counter receipts for shares dealt with OTCEI.	Forms have to be submitted to the prescribed authority before execution. In case of shares dealt with or quoted on the recognised Stock Exchange, it may be done at any time before the date on which register of members is closed for the first time in accordance with the law, after the date of presentation to the prescribed authority, or within twelve months from the date of such presentation, whichever is later. In all other cases, within two months from the date of presentation.
108(1-D)	7C	Extension of time under section 108(1-D) of the Companies Act, 1956	To be submitted before or after the expiry of the periods as mentioned in section 108(1-A)(b).
108A	7D	Application for approval of the Central Government for acquisition of shares under section 108A	Any time before acquisition of shares.

 

Due Dates / Time Limit for Filing Documents (4)

 

Section No.	Form No.	Description	Time limits for filing
108B	7E	Intimation to the Central Government of the proposal to transfer shares under section 108B	Any time before transfer of shares.
108C	7E	Application for approval of the Central Government for transfer of shares of foreign companies under section 108-C	Any time before transfer of shares.
125/127/135	8	Particulars of Charges created by a company registered in India/Subject to which property has been acquired by a company registered in India/Modification of Charges	Within 30 days after the date of its creation. If there is sufficient cause, the Registrar of Companies can condone the delay upto 30 days on payment of additional fee, not exceeding ten times the amount of fee specified in Schedule X. The Company Law Board can also condone the delay under section 141 of the Act.
128 & 129	10	Particulars of a series of debentures, containing or giving by reference to any other instrument, any charge to the benefit of which the debenture holders of the said series are entitled pari passu, created by a company registered in India and also of any issue of debentures in a series	The return has to be filed either by execution of deed or of any debentures of the series, within 30 days of creation of charge.
131	12	Chronological index of charges	To be maintained by ROC.
130, 135, 137 &  138	13	Register of Charges	It has to be submitted within 30 days of creation or modification or satisfaction of charge.
137	15	Notice of Appointment of Receiver or Manager	The return has to be submitted within 30 days from the date of the order of court, or of the making of the appointment.

 

Due Dates / Time Limit for Filing Documents (5)

 

Section No.	Form No.	Description	Time limits for filing
137(2)	16	Notice to be given by Receiver/Manager on ceasing to the act as such	The return has to be submitted immediately after cessation.
138	17	Memorandum of Complete Satisfaction of Charge	The return must be submitted within 30 days of satisfaction or payment of charge. Only payment of satisfaction in full has to be registered.
146	18	Notice of Situation / Change of Situation of Registered Office	The return has to be submitted within 30 days of incorporation or change of situation of Registered office.
149(1)(d)	19	Declaration of Compliance with the provisions of section 149(1)(a), (b) and (c) of the Companies Act, 1956	The declaration should be submitted before commencing business or exercising borrowing powers.
149(2)(c)	20	Declaration of Compliance with the provisions of section 149(2)(b), of the Companies Act, 1956	The declaration must be submitted before commencing business or before borrowing powers has been exercised.
149(2A)(ii)	20A	Declaration of Compliance with the provisions of section 149(2A), or of the section 149(2B)	Before commencement of new business, the declaration has to be submitted.
17(1), 79, 81(2), 94A(2), 102(1), 107(3), 111, 141, 167, 186, 391(2), 394(1)	21	Notice of the Court's/Company Law Board's Order	The return has to be submitted within three months from the date of the order of the Company Law Board, under section 17(5) of the Act. Filling of the Orders of the Company Law Board / Court passed under other provisions of the Act, are to be filed with the Registrar of Companies within 30 days from the date of the order. In case of an order by Company Law Board u/s 17(5) of the Act, the return is to be filed within 3 months of the order. In case of other orders under other provisions of the act, the return must be submitted within the time limit specified under the relevant Section/Rules or within 30 days from the date of the order as the case may be.
160	21A	Form of Annual Return not having Share Capital	The return must be submitted within 60 days of the Annual General Meeting.

 

Due Dates / Time Limit for Filing Documents (6)

 

Section No.		Form No.	Description		Time limits for filing
165		22	Return of Statutory Report		The report must be submitted immediately after sending the same to members preferably within 7 days of the date of report.
171(2)		22A	Consent of Shareholder for shorter notice		Any time before the date that has been fixed for the meeting.
192		23	Registration of Resolution(s) and Agreement(s)		Return has to be submitted within 30 days of passing the resolution / making the agreement.
209(1)		23AA	Notice of address at which Books of Account are maintained		Notice has to be submitted within 7 days of the Board's decision.
219(1)(b)(iv)		23AB	Statement containing Salient Features of Balance-Sheet and Profit and Loss Account etc., as per section 219(1)(b)(iv)		To be sent within 21 days before the date of the Annual General Meeting to the members of Stock Exchange and to be filed with ROC.
224(1A)		23B	Notice by Auditor		Form is to be submitted within 30 days from the date of receipt of the intimation of appointment from the company.
233B(2)		23C	Form of Application to the Central Government for Appointment of Cost Auditor		After the Board Meeting at which such person has been appointed, subject to the approval of the Central Government, but before the appointment of cost auditor.

 

Due Dates / Time Limit for Filing Documents (7)

 

Section No.	Form No.	Description	Time limits for filing
259	24	Application to the Central Government for increasing the number of Directors of Company	Any time before the number of directors is increased.
297(1)	24A	Application to the Central Government for obtaining the previous approval for entering into contracts with the company for sale, purchase or supply of any goods, materials or services, pursuant to proviso to section 297(1)	To be submitted at any time before entering into the contract by the company.
299	24AA	Notice by the interested Directors	At the first meeting the board of directors held after the director becomes concerned or interested. This notice is to be given every year before the expiry of the financial year of the company.
314(1B)	24B	Application to the Central Government for obtaining prior consent for the holding by certain persons of any office or place of profit in a company	Any time after passing of the special resolution, but before the actual appointment.
198(4), 269, 309(3), 311, 387 & 388	25A	Application to the Central Government for approval of appointment/Re-appointment and remuneration payable to Managing/Whole-time directors or manager	To be submitted within a period of 90 days from the date of appointment.
268	25B	Application to the Central Government for approval to amendment of provision relating to Managing, Whole-time or non-rotational directors	Any time before making any amendment of any provision relating to the appointment or re-appointment of a managing or whole-time director or of a director not liable to retire by rotation.
269(2)	25C	Return of appointment of Managing director / Whole-time Director / manager	Within 90 days from the date of appointment of a person as a Managing or Wholetime director or a manager, according to conditions specified in Schedule XIII.

 

Due Dates / Time Limit for Filing Documents (8)

 

Section No.	Form No.	Description	Time limits for filing
310, 311 &  388	26	Application to the Central Government for increase in remuneration of Managing director/Whole-time Director/manager	Any time after the passing of the Board or general meeting resolution, but before giving effect to the increase in remuneration.
264(2)/ 266(1)(a) & 266(1)(b)(iii)	29	Consent to act as director of a Company and/or Undertaking to take and pay for qualification shares	The return has to be submitted within 30 days of appointment, or at the time of incorporation of the company.
303(2)	32	Particulars of appointment of Directors and Manager and changes among them	The return must be submitted within 30 days of appointment or change, as the case may be.
306	34	Register of Directors, Managing Directors, Manager and Secretary, etc. to be maintained by ROC.	-
395	35	Notice to dissenting shareholders	The transferee co is required to give notice to the dissenting share holder within 2 months after the expiry of 4 months of the offer made by the transferee company.
395(4A)(a)(i)	35A	Information to be furnished in relation to any offer of a scheme or Contract involving the transfer of Shares or any Class of Shares in the transferor Company to the transferee Company	The information must be submitted before the scheme of offer is circulated to the members, since no time-limit has been prescribed.
421 & 424	36	Receiver's or Manager's Abstract of Receipt and Payments	The return must be submitted once in every half year, till the receiver remains in possession and on cessation.
565, 566 & 567	37	Application by an existing Joint Stock Company for Registration as a Limited Company/Private Limited/an Unlimited Company	At the time of registration.

 

Due Dates / Time Limit for Filing Documents (9)

 

Section No.	Form No.	Description	Time limits for filing
565 & 568	38	Application by an existing Company (not being a Joint Stock Company) for Registration as a Limited/an Unlimited Company	At the time of registration.
567(a)	39	Registration of an Existing Company	Before a joint-stock company has been registered as a limited company.
567(c)	40	Registration of an existing Company as a Limited Company (Statement specifying certain particulars)	Before a joint-stock company has been registered as a limited company.
565(1)	41	Registration of an existing Company as a Limited Company (Copy of Resolution assenting to registration with limited liability)	Before a joint-stock company has been registered as a limited company.
568(a)	42	List of the names, addresses and occupations of the directors and the manager, if any, of the existing company, not being a joint stock company	To be submitted at the time of registration.
592	44	Document Delivered for Registration by a Foreign  Company	Within 30 days of the establishment of business in India by Foreign company.
593(a)/(b)/(c)	49	Return of alteration in the (a) Charter, Statutes or Memorandum and Articles of Association (b) address of the Registered or Principal Office and (c) Directors and Secretary of a foreign company	On or before 31st January of the year following the year in which the alteration has occurred or been made.
593(d)/(e), 594(3)/ 597(3)	52	Notice of (a) alteration in the names and addresses of persons resident in India Authorized to accept service on behalf of a foreign company, (b) Alteration in the address of principal place of business in India of a Foreign company, (C) List of places of business established by Foreign company in India, (D) Cessation to have a place of business in India	The form must be submitted within one month from the date of alteration and in the case of cessation of place of business, forthwith and copies of balance sheet and profit and loss account within nine months from the close of financial year.

 

Due Dates / Time Limit for Filing Documents (10)

 

Section No.	Form No.	Description	Time limits for filing
600/125/127	55	Particulars of charge on property in India created by a Foreign Company after the 15th January,1937	The form has to be submitted within 30 days of creation of charge or acquisition of property or creating of instrument in India, as the case may be.
600, read with Sec. 127	56	Particulars of charge subject to which a  property in India has been acquired by a Foreign Company after 15th January,1937	The form must be submitted within 30 days of acquisition of a charged property.
600, read with Sec. 128	57	Particulars of an issue of Debentures in a series by a Foreign Company	The form must be submitted within 30 days of issue or execution of deed. If there is no such deed, to be submitted after the execution of any debentures of the series.
600, read with  Secs. 128 & 129	58	Particulars of  series of debentures containing or giving by reference to any other instrument any charge to the benefit of which the debenture holders of the said series are entitled pari passu created by a Foreign Company	The form has to be filed within 30 days of the execution of the deed.
600(1), read with Sec. 135	59	Particulars of Modification of charge created by a Foreign Company	The form must be submitted within 30 days of modification or receipt of instrument in India. The period of 30 days shall be counted after the date on which the original instrument, or a copy thereof has been despatched duly by post, have been received in India.
600, read with Sec. 138	60	Memorandum of complete satisfaction of charge created by a Foreign Company	The form has to be submitted within 30 days of payment or satisfaction.

 

 

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